When quantity demanded exceeds quantity supplied
A. there exists a surplus of a good.
B. the price tends to fall.
C. the price is below the equilibrium price.
D. there is no excess demand.
Answer: C
When quantity demanded exceeds quantity supplied
A. there exists a surplus of a good.
B. the price tends to fall.
C. the price is below the equilibrium price.
D. there is no excess demand.
Answer: C