Answer both correctly. I ll rate accordingly. Typed answer please. QUESTION 7Excess demand exists whenSelect 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 6What will be the result of excess demand in the rice market?Select one:The demand for rice will decrease quicklyO a.O b. The price of rice will decreaseO c. The price of rice will be the sameO d. The price of rice will increase

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Answered: QUESTION 7 Excess demand exists when…

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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Answer both correctly. I ll rate accordingly. Typed answer please.

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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