If the quantity demanded is less than the quantity supplied, then:

Name: If the quantity demanded is less than the quantity supplied, then:
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Question

Quizplus · Accepted Answer

When the quantity demanded is less than the quantity supplied, it indicates an excess supply or surplus. This means that there are more goods available than people are willing to buy. In order to achieve equilibrium, the price needs to decrease to encourage consumers to purchase more goods, thus increasing demand and decreasing supply until a balance is reached.

If the Quantity Demanded Is Less Than the Quantity Supplied