When There Is an Excess Quantity Demanded for a Product

question 85

Multiple Choice

When there is an excess quantity demanded for a product at the current price, then:

• A)the price will tend to fall
• B)the price will tend to rise.
• C)the price must be above the equilibrium price.
• D)producers will reduce output and sales will fall.
• E)the quantity demanded will tend to fall.

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Definitions:

Public

Pertains to the general population or community at large, often in contrast to private or individual interests.

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Pertaining to or owned by an individual or entity not affiliated with the government or public sectors.

Common

Referring to something usual, shared, or widespread; often contrasted with what is unique or uncommon.

Strong Cultures

Corporate or organizational cultures that are highly cohesive, with shared values and norms guiding employee behavior and contributing positively to the organization's performance.