133k views
1 vote
If the price is below the equilibrium level, then the quantity demanded will exceed the quantity supplied. This is known as ___________________ Group of answer choices

2 Answers

0 votes

Answer: shortage

Step-by-step explanation:

User Orr
by
4.4k points
4 votes

Answer:

Shortage

Step-by-step explanation:

At equilibrium, the quantity demanded equals the quantity supplied.

When the quantity demanded will exceed the quantity supplied, there is a shortage.

when the quantity supplied exceeds the quantity demanded, there is a surplus.

User Phschoen
by
4.5k points