If at a given price, the amount by which quantity demanded exceeds quantity supplied, there is _____.

Name: If at a given price, the amount by which quantity demanded exceeds quantity supplied, there is _____.
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Question

Quizplus · Accepted Answer

When the quantity demanded exceeds the quantity supplied at a given price, there is a shortage. This means that consumers are willing to buy more than producers are willing to sell at that price, indicating a market imbalance.

If at a Given Price, the Amount by Which Quantity