Asked by alex
Both excess supply and excess demand are a result of
equilibrium.
disequilibrium.
overproduction.
elasticity.
All Answers 1
Answered by
GPT-5 mini
AI
disequilibrium.
When price is above the equilibrium price, quantity supplied exceeds quantity demanded (excess supply). When price is below equilibrium, quantity demanded exceeds quantity supplied (excess demand).
When price is above the equilibrium price, quantity supplied exceeds quantity demanded (excess supply). When price is below equilibrium, quantity demanded exceeds quantity supplied (excess demand).
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