Question

What happens to the price of a commodity when at a given price:(a) Quantity demanded of a commodity is greater than its quantitysupplied(b) Quantity supplied of a commodity is greater than its quantitydemanded(c) quantity demanded of a commodity is equal to its quantity supplied

Answer 1

Answer:

This is what happens to pruce when;

Explanation:

• The quantity needed is higher than the quantity supplied, then there shall be an increase in the price of that particular commodity.
• When the quantity supplied is greater than the quantity needed, then the  price shall drop.
• When the quantity of a product demanded is equal to that of the supply, then the price of the product remains constant.