If Quantity Supplied Is Greater Than the Quantity Demanded, Then

question 97

Multiple Choice

If quantity supplied is greater than the quantity demanded, then according to the market process:

• A) the shortage exists and the price will increase to the equilibrium level.
• B) the surplus exists and the price will increase to the equilibrium level.
• C) the shortage exists and the price will decrease to the equilibrium level.
• D) the surplus exists and the price will decrease to the equilibrium level.

---

Definitions:

Imaginary Unit

The imaginary unit, denoted as \(i\), is defined as the square root of \(-1\) and is foundational in complex number theory.

Standard Form

A way of writing numbers, particularly large or small numbers, using powers of ten, or a method to write equations, especially linear equations, in a specific format.

Imaginary Unit

The square root of negative one, denoted by \(i\), used in complex number calculations.

Standard Form

A way of writing down very large or very small numbers easily, or a way to write equations in a specific format.