Whenever the quantity demanded is not equal to the quantity supplied, the quantity that is actually sold in the market is:
A)the quantity demanded.
B)the quantity supplied.
C)the smaller of the quantity demanded and the quantity supplied.
D)the greater of the quantity demanded and the quantity supplied.

Question

Quizplus · Accepted Answer

When the quantity demanded exceeds the quantity supplied, there is a shortage and not enough goods are available to meet the demand. Conversely, when the quantity supplied exceeds the quantity demanded, there is a surplus and excess goods are left unsold. In either case, the actual quantity sold will be the smaller of the quantity demanded and the quantity supplied, as this represents the point at which the market clears and supply and demand are reconciled.

Whenever the Quantity Demanded Is Not Equal to the Quantity