At any price higher than the equilibrium price, a________ in quantity will be created and at any price lower than the equilibrium price, a________ _ in quantity will be created.

Question

Quizplus · Accepted Answer

At any price higher than the equilibrium price, a surplus in quantity will be created because the quantity supplied will exceed the quantity demanded. Conversely, at any price lower than the equilibrium price, a shortage in quantity will be created because the quantity demanded will exceed the quantity supplied.

At Any Price Higher Than the Equilibrium Price, A________ in Quantity