If the Quantity Supplied in a Market Exceeds the Quantity

question 29

Multiple Choice

If the quantity supplied in a market exceeds the quantity demanded in a market, we would expect price to:

• A) stay the same.
• B) increase.
• C) decrease.
• D) rise in order to clear the market.

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Definitions:

Mainstream

Ideas, attitudes, or activities that are regarded as normal or conventional by the majority of people in a society.

Cognitive Psychology

A branch of psychology focused on studying how people think, perceive, remember, and learn.

Perseverance

Persistent determination in doing something despite difficulty or delay in achieving success.

Tenacity

The quality or state of being very determined or persistent.