-Refer to Exhibit 3-17.At a price of $16,the quantity demanded of good X is ____________ than the quantity supplied of good X,and economists would use this information to predict that the price of good X would soon ______________.This would push the price __________ the equilibrium price.
A) greater; fall; toward
B) greater; rise; toward
C) less; fall; toward
D) less; rise; away from
E) greater; rise; away from

Question

-Refer to Exhibit 3-17.At a price of $16,the quantity demanded of good X is ____________ than the quantity supplied of good X,and economists would use this information to predict that the price of good X would soon ______________.This would push the price __________ the equilibrium price.
A) greater; fall; toward 
B) greater; rise; toward 
C) less; fall; toward 
D) less; rise; away from 
E) greater; rise; away from

Quizplus · Accepted Answer

At a price of $16, if the quantity demanded is greater than the quantity supplied, there is a shortage, causing the price to rise toward the equilibrium price.