Excess Demand Will Exist When

question 35

Multiple Choice

Excess demand will exist when:

• A) market price exceeds the equilibrium price.
• B) market price is less than the equilibrium price.
• C) market price is equal to the equilibrium price.
• D) quantity supplied exceeds quantity demanded.

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Definitions:

Extramarital Relationships

Romantic or sexual relationships that occur outside of one's marriage.

Markdown

A reduction from the original selling price of products or services, often used to clear inventory or boost sales.

Liquidity Reduction

A decrease in the ease with which assets can be converted into cash without significant loss in value.

Cost of Goods Sold

An accounting term representing the direct expenses related to producing or purchasing the goods sold by a company during a given period.