Suppose that at the current price, consumers would like to purchase 10 million large-screen televisions and 15 million are available. When the market coordinates the demand and supply for large-screen televisions, the price of large-screen televisions will:

Question

Quizplus · Accepted Answer

When supply exceeds demand, as in this case where 15 million televisions are available but only 10 million are demanded, the price will typically fall to encourage more purchases and reduce the surplus.

Suppose That at the Current Price, Consumers Would Like to Purchase