At any disequilibrium price, whether controlled or not, the quantity actually exchanged is determined by
A) the lesser of quantity demanded and quantity supplied.
B) government decree.
C) the elasticity of supply.
D) the elasticity of demand.
E) the greater of quantity demanded and quantity supplied.

Question

Quizplus · Accepted Answer

At any disequilibrium price, there will either be excess demand or excess supply. The quantity actually exchanged will be determined by the lesser of the quantity demanded and quantity supplied, as this is the maximum amount that both consumers and producers are willing and able to exchange at that price.

At Any Disequilibrium Price, Whether Controlled or Not, the Quantity