If, for a Product, the Quantity Supplied Exceeds the Quantity

question 201

Multiple Choice

If, for a product, the quantity supplied exceeds the quantity demanded, the market price will fall until

• A)the quantity demanded exceeds the quantity supplied. The market will then be in equilibrium.
• B)quantity demanded equals quantity supplied. The equilibrium price will then be lower than the market price.
• C)all consumers will be able to afford the product.
• D)quantity demanded equals quantity supplied. The market price will then equal the equilibrium price.

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Definitions:

Organic Structure

A flexible, decentralized organizational design that emphasizes informal networks of communication and empowers employees to take decisions.

Growth

The process of increasing in size, value, or importance.

Span of Control

Refers to the number of subordinates or tasks directly supervised or overseen by one manager or leader.

Centralization

The concentration of control, decision-making, or authority in a particular location or among a specific group of individuals.