Excess supply is:
A) the result of a price that is above equilibrium, causing the quantity demanded to exceed the quantity supplied.
B) the result of a price that is below equilibrium, causing the quantity demanded to exceed the quantity supplied.
C) the result of a price that is above equilibrium, causing the quantity supplied to exceed the quantity demanded.
D) the result of a price that is below equilibrium, causing the quantity supplied to exceed the quantity demanded.
Correct Answer:
Verified
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