QUESTION 7 Excess demand exists when Select one: O a. quantity demanded does not equal supply. O b. demand is rising. O c. price is below the equilibrium price. O d. market prices are very low.
QUESTION 7 Excess demand exists when Select one: O a. quantity demanded does not equal supply. O b. demand is rising. O c. price is below the equilibrium price. O d. market prices are very low.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...
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Answer both correctly. I ll rate accordingly. Typed answer please.
![QUESTION 7
Excess demand exists when
Select one:
O a. quantity demanded does not equal supply.
b. demand is rising.
O c. price is below the equilibrium price.
O d. market prices are very low.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5860ef23-d2b4-4c8a-b41b-07a2aabf445d%2Fe7b5ce2f-0df4-4b36-a364-cfcaee3444f8%2Fuhunjgl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 7
Excess demand exists when
Select one:
O a. quantity demanded does not equal supply.
b. demand is rising.
O c. price is below the equilibrium price.
O d. market prices are very low.
![QUESTION 6
What will be the result of excess demand in the rice market?
Select one:
The demand for rice will decrease quickly
O a.
O b. The price of rice will decrease
O c. The price of rice will be the same
O d. The price of rice will increase](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5860ef23-d2b4-4c8a-b41b-07a2aabf445d%2Fe7b5ce2f-0df4-4b36-a364-cfcaee3444f8%2Fqk20kxp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 6
What will be the result of excess demand in the rice market?
Select one:
The demand for rice will decrease quickly
O a.
O b. The price of rice will decrease
O c. The price of rice will be the same
O d. The price of rice will increase
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