The current price of a flower arrangement is $40. At the current price, more people want to buy flower arrangements than sellers are willing to sell at that price. What statement about the market for flower arrangements is correct?

Question

Quizplus · Accepted Answer

When demand exceeds supply at the current price, it puts upward pressure on prices, leading to an increase in price until market equilibrium is reached.

The Current Price of a Flower Arrangement Is $40