Question

If quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium?

Answer 1

Explanation:

A shortage exists if the quantity of a good or service demanded exceeds the quantity supplied at the current price; it causes upward pressure on price. An increase in demand, all other things unchanged, will cause theequilibrium price to rise; quantity supplied will increase.

Answer 2

Answer:

A shortage exists if the quantity of a good or service demanded exceeds the quantity supplied at the current price; it causes upward pressure on price. An increase in demand, all other things unchanged, will cause the equilibrium price to rise; quantity supplied will increase.

Explanation:

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