D Question 7 If the price of a good or service is higher than the equilibrium price excess supply is likely to push prices higher excess demand is likely to push prices lower. consumers will want to purchase more than producers are willing to produce. O producers are likely to produce more than consumers are willing to purchase. D Question 8 1 pts If a country, business, or person has a comparative advantage in producing a good or service, this means that this country, business, or person can produce this good or service at a low opportunity cost. should buy this good from others can produce this good at the same opportunity cost as others. O can produce this good or service at a high opportunity cost