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17 April, 05:49

3. What market condition exists when quantity demanded is greater than quantity supplied?

Storage

4. What happens to price when the market condition in question 3 exists?

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Answers (1)
  1. 17 April, 05:51
    0
    3. excess demand 4. increases

    Explanation:

    shortage or excess demand increases prices until demand at that price matches the available supply establishing market equilibrium
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