Price reductions will usually result whenever the quantity supplied exceeds the quantity demanded at the current market price.

Name: Price reductions will usually result whenever the quantity supplied exceeds the quantity demanded at the current market price.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true according to the law of supply and demand. When there is an excess supply of a product in the market, sellers may lower the price in order to attract more buyers and reduce their inventory.

Price Reductions Will Usually Result Whenever the Quantity Supplied Exceeds