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If the supply is less than the demand, there will be a shortage and price increase.
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When quantity supplied is greater than quantity demanded there is?
Excess supply.
Why you put price on y axis and quantity demanded on x axis in economics?
Price and quantity demanded are both interdependent: there is not an independent variable. From that point of view, there is no reason to put one variable on the x-axis rather than the other.However, putting price on the horizontal axis makes it simpler to add the supply curve on the same chart, and then study the market equilibrium.Price and quantity demanded are both interdependent: there is not an independent variable. From that point of view, there is no reason to put one variable on the x-axis rather than the other.However, putting price on the horizontal axis makes it simpler to add the supply curve on the same chart, and then study the market equilibrium.Price and quantity demanded are both interdependent: there is not an independent variable. From that point of view, there is no reason to put one variable on the x-axis rather than the other.However, putting price on the horizontal axis makes it simpler to add the supply curve on the same chart, and then study the market equilibrium.Price and quantity demanded are both interdependent: there is not an independent variable. From that point of view, there is no reason to put one variable on the x-axis rather than the other.However, putting price on the horizontal axis makes it simpler to add the supply curve on the same chart, and then study the market equilibrium.
Is 245 greater than or less or equal to426?
Less than
Is this true 6.75 less than 6.759 less than 6.751 less than 6.85?
No. 6.75 is less than 6.759 which is not less than 6.751 which is less than 6.85.
Is 0.59 greater than or less than 0.6?
less than
