If, for a product, the quantity supplied exceeds the quantity demanded, the market price will fall until
A) all consumers will be able to afford the product.
B) the quantity demanded exceeds the quantity supplied. The market will then be in equilibrium.
C) quantity demanded equals quantity supplied. The equilibrium price will then be lower than the market price.
D) quantity demanded equals quantity supplied. The market price will then equal the equilibrium price.
D
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Economic profit is the same as normal profit
Indicate whether the statement is true or false
Which one of the following statements is true?
a. All projects that provide positive net benefits should be approved b. Cost-effectiveness analysis determines the best policy to achieve a given end c. All projects with a benefit/cost ratio of less than one should be approved d. Positional analysis determines the single proposal that provides the greatest net benefits e. Cost-benefit analysis always provides estimates for all costs and benefits associated with a project Feedback
Given the following hypothetical data where C = $3,000; I = $1,200; G = $2,000; X ? M = ?$500; depreciation = $200; transfer payments = $800, net domestic product is _____.
a. $5,700. b. $5,500. c. $6,900. d. $6,200. e. $6,400.
For liberals, the United States has a(n)
A. public sector that is too large. B. private sector that is too small. C. economy that is too heavily regulated. D. public sector that is too small.