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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
What happens to the equilibrium price and quantity when demand rises less than supply rises?
When price and quantity demanded rises less than supply rises then shortage of goods create.
When quantity supplied is greater than quantity demanded there is?
Excess supply.
What is it called when quantity supplied is more than quantity demanded?
Excess supply.
When equilibrium demanded is greater than quantity?
No. Equilibrium is when supply and demand are equal
Which represents a shortage in the market Quantity supplied is greater than quantity demanded. Market price is less than equilibrium price. Quantity supplied equals quantity demanded. M?
A shortage in the market occurs when the quantity demanded exceeds the quantity supplied. This typically happens when the market price is set below the equilibrium price, leading to increased demand and insufficient supply to meet that demand. Therefore, the correct representation of a shortage is that the market price is less than the equilibrium price, resulting in a situation where quantity demanded is greater than quantity supplied.
If the price is less than the equilibrium price what is the relatiionship of quantity supplied to quantity demanded?
If the price is low, suppliers may well not wish to supply the full quantity that is demanded by consumers.The quantity demanded and quantity supplied determines the equilibrium price in the market. The quantity where these two are equal, that is where the market price is set.
When the supply is less than demand there is a what?
If the supply is less than the demand, there will be a shortage and price increase.
When the supply is less than demand there is a?
If the supply is less than the demand, there will be a shortage and price increase.
When a shortage exists?
quantity supplied is less than quantity demanded
When is a shortage in a market?
Quantity demanded is less than quantity supplied.
A market shortage exists when .?
quantity supplied is less than quantity demanded
When is there a shortage in a market for a product?
Quantity demanded is less than quantity supplied.
