If the Quantity Demanded Is Greater Than the Quantity Supplied

question 108

Multiple Choice

If the quantity demanded is greater than the quantity supplied:

• A) firms will reduce price.
• B) some consumers will offer to pay more for the product.
• C) a surplus results for the increased demand.
• D) firms will decrease production to drive up the price.

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Definitions:

Suffix

An affix that is added to the end of a word to alter its meaning or create a new word.

Combining Forms

In medical terminology, the word root with a combining form vowel (usually an “o”) that aids in making the word pronounceable, particularly when adding a suffix that begins with a consonant.

Singular

Unique or existing as the only one; often used to describe something that is remarkable.

Plural

The form of a word that is used to denote more than one.