If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 12,000 per year, there is a ________in the market and the price will _____________.

Question

Quizplus · Accepted Answer

There is a shortage in the market because the quantity demanded (12,000) exceeds the quantity supplied (10,000). As a result, the price will rise to reach equilibrium.

If the Quantity of Textbooks Supplied Is 10,000 Per Year