-In Exhibit C-5, if price is $25, a(n) ___ would result, causing a(n) ___ in price.

Question

-In Exhibit C-5, if price is $25, a(n) ___ would result, causing a(n)___ in price.

Quizplus · Accepted Answer

If the price is set at $25 and it results in excess demand, this means that the quantity demanded exceeds the quantity supplied at that price point. Consequently, the increased competition among buyers to purchase the limited available goods would naturally lead to an increase in price as sellers can command higher prices due to the high demand relative to supply.

-In Exhibit C-5, If Price Is $25, A(n) ___ Would