If the Quantity Demanded of a Good Is Greater Than

question 162

Multiple Choice

If the quantity demanded of a good is greater than the quantity supplied of the good at the current price,then

• A)Price will increase until it reaches the equilibrium price.
• B)The demand curve will shift to the left to create equilibrium.
• C)The supply curve will shift to the right to create equilibrium.
• D)There is a surplus of the good.

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Definitions:

Brand Extension

A strategy where a firm uses an existing brand name to introduce a new product or service category to the market.

Line Extension

A marketing strategy where a company introduces additional items in the same product category under the same brand name, such as new flavors, forms, colors, added ingredients, or package sizes.

Homemade Soda

Soda made at home using ingredients and methods that allow customization and control over the final taste.

Family Brand

A marketing strategy in which a range of products is marketed under a single brand name, aiming to capture consumer trust and loyalty.