If the government imposes an administered price in the market for gold that results in excess supply,

Name: If the government imposes an administered price in the market for gold that results in excess supply,
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Excess supply means that there are more sellers than buyers. In a market in equilibrium, the quantity demanded and supplied are equal. Therefore, if the government imposes an administered price that results in excess supply, it creates a situation of disequilibrium.

If the Government Imposes an Administered Price in the Market