If the Quantity Demanded Exceeds the Quantity Supplied, Then There

question 75

Multiple Choice

If the quantity demanded exceeds the quantity supplied, then there is

• A) a shortage and the price is below the equilibrium price.
• B) a surplus and the price is below the equilibrium price.
• C) a surplus and the price is above the equilibrium price.
• D) a shortage and the price is above the equilibrium price.

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Definitions:

Narrowcasting

The dissemination of information to a niche audience, as opposed to broadcasting to a wide audience.

Regional Music Festival

An event that features live musical performances, typically focusing on a specific genre or themes, and aimed at attracting attendees from a particular geographic region.

Outdoor Advertising

Advertising that reaches consumers while they are outside their homes, such as billboards, transit posters, and digital outdoor displays.

Cheapest Form

The most cost-effective variant or method of obtaining or producing a good or service without compromising its essential qualities.