When the market price is lower than the equilibrium price, the result is excess ____.When the market price is higher than the equilibrium price, the result is excess _____. Question 1Answer a. Supply; demand b. Demand; demand c. Demand; supply d. Supply; supply

When the market price is lower than the equilibrium price, the result is excess .When the market price is higher than the equilibrium price, the result is excess _. Question 1Answer a. Supply; demand b. Demand; demand c. Demand; supply d. Supply; supply

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 22SQ

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Question

When the market price is lower than the equilibrium price, the result is excess ____.

When the market price is higher than the equilibrium price, the result is excess _____.

Question 1Answer

Supply; demand

Demand; demand

Demand; supply

Supply; supply

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