When quantity demanded is greater than quantity supplied, _______. a) market price will rise b) market price

Question:

When quantity demanded is greater than quantity supplied, _______.

a) market price will rise

b) market price will fall

c) market price will stay the same

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

See More Books

Question Posted: Feb 29, 2024 07:00 AM

See More Questions

What is the only difference between visible radiation and radio waves? a. Radio waves can be heard, whereas visible radiation cannot. b. Radio waves travel more slowly than visible radiation. c....
1. The following relations describe demand and supply. Q = 700 - 100P (1) Q = -100 + 100P (2) Where P is price in dollar and Q is quantity in unit. a. Which equation (1) or (2), is demand equation...
The article promotes the importance of funding at the elite level of sport to enhance performance outcomes. Do you believe more money is needed to be invested in elite sports in Hong Kong, or is it...
What are the special features of (a) cross-section data, (b) time series data, and (c) panel data?
Amazon.com reported the following amounts in its financial statements (in millions): 1. Determine the inventory turnover ratio and average days to sell inventory for 2010 and 2009. Round to one...
City Cab Company identified 10 primary pickup and drop locations for cab riders in New York City. In an effort to minimize travel time and improve customer service and the utilization of the companys...
Nielsen provides a wide range of analytical tools and insights that are used by marketing managers across many industries. Go to Nielsens website (www.nielsen.com) and navigate to the Insights...
Success Systems' second quarter 2014 fixed budget performance report for its computer furniture operations follows. The $156,000 budgeted expenses include $108,000 in variable expenses for desks and...
Monash Co. pays dividends annualy and has a current dividend of $7 per share. It is expected to grow at a rate of 25% per annum for the next 2 years, 20% for the following 3 years, after which...
What happens to quantity supplied when price is lowered? a) It rises. b) It falls. c) It stays the same. d) It cannot be determined if it rises, falls, or stays the same.
At equilibrium price, quantity demanded is _____. a) greater than quantity supplied b) equal to quantity supplied c) smaller than quantity supplied
An enterprising art historian recently started a new business: the production of walking-tour audiotapes for use by those visiting major cities. She originally produced tapes for eight cities: Paris,...
What can you do to plan ahead and educate others about the international groups? Consider How do you communicate during the meeting with your colleagues?
What do you think should be the role of personality tests in candidate selection? Do you think they should play a major, minor or no part in an organization\'s hiring decision for a job? What are...
What channels do our target customers prefer for discovering, researching, and purchasing products? How do cultural or societal shifts affect consumer attitudes and behaviors towards our products or...
What role do symbolic artifacts and rituals play in the construction and maintenance of organizational culture, and how do they influence employee identification and commitment ?
Describe all you would do and what you would consider in converting some or all of your employees to independent contractors, the rate you would pay and the reason therefor and how it would be paid....
Calculate the total amount, including both GST and PST, that an individual will pay for a car priced at $39,500 in: a. Alberta b. Saskatchewan c. Quebec
For all of the following words, if you move the first letter to the end of the word, and then spell the result backwards, you will get the original word: banana dresser grammar potato revive uneven...
1. In the state of Virginia, the demand for vanity license plates is ______ (elastic/inelastic), so an increase in price would ______ (increase/decrease) total revenue from vanity plates. 2. A policy...
1. In the state of Virginia, the demand for vanity license plates is ______ (elastic/inelastic), so an increase in price would ______ (increase/decrease) total revenue from vanity plates. 2. A policy...
1. In the state of Virginia, the demand for vanity license plates is ______ (elastic/inelastic), so an increase in price would ______ (increase/decrease) total revenue from vanity plates. 2. A policy...
Chapter o Homew ebook 50,000-unit production quantity: $ 227,049 7 70,000-unit production quantity: $ 66,751 d. In addition to mean profit, what other factors should FTC consider in determining a...
Diamond makes downhill ski equipment. Assume that comic has offered to produce ski poles for Diamond for $20 per pair Diamond needs 200,000 pairs of poles per period Diamond can only avoid 5150,000...
17? Which of the following statement is true Select one: a. All evidence must have the same level of reliability b. All evidence must have the same level of persuasiveness C. All are false d....

When quantity demanded is greater than quantity supplied, _______. a) market price will rise b) market price

Question:

Step by Step Answer:

The correct answer is a market price will rise Explanation According to the Law of Supply and Demand ...View the full answer

Microeconomics

Students also viewed these Business questions