Question

Suppose you are a jeans producer who charges a price of $10 for a pair of jeans. But the equilibrium price is $15. At your price, you will have an _____ jeans. excess supply of excess demand for equilibrium amount of

Answer 1

At your price you will have an excess demand for jeans. The correct option among all the options that are given in the question is the third option. The main reason for such a situation is because the jeans producer is selling the jeans at a price which is lower than the equilibrium price. I hope this helps you.