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After excess demand
- a)Market price rise
- b)Market price fall
- c)Market price remains the same
- d)Market price falls below the equilibrium price
Correct answer is option 'A'. Can you explain this answer?
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After excess demanda)Market price riseb)Market price fallc)Market pric...
A Market Surplus occurs when there is excess supply- that is quantity supplied is greater than quantity demanded. ... In this situation, excess supply has exerted downward pressure on the price of the product. A Market Shortage occurs when there is excess demand- that is quantity demanded is greater than quantity supplied.
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After excess demanda)Market price riseb)Market price fallc)Market pric...
In case of excess demand, the demand of a commodity is more than its supply. SO in this case, there will be competition among consumers and every consumer tries to purchase more of a commodity by paying higher prices. This will tend price to rise.
Hence a) Market price rise
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After excess demanda)Market price riseb)Market price fallc)Market pric...
In case of excess demand, the demand of a commodity is more than its supply. SO in this case, there will be competition among consumers and every consumer tries to purchase more of a commodity by paying higher prices. This will tend price to rise.
Hence a) Market price rise
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After excess demanda)Market price riseb)Market price fallc)Market price remains the samed)Market price falls below the equilibrium priceCorrect answer is option 'A'. Can you explain this answer?
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