When the price is either higher or lower than the equilibrium price,the quantity exchanged will be ________ the equilibrium quantity.
A) higher than
B) lower than
C) equal to
D) either lower than or higher than
E) either equal to or lower than

Question

Quizplus · Accepted Answer

When the price is not at equilibrium, either a surplus or a shortage occurs, leading to a quantity exchanged that is lower than the equilibrium quantity.

When the Price Is Either Higher or Lower Than the Equilibrium