question archive If a market is in disequilibrium, economists would predict that the product's price would _____ to reach equilibrium when the quantity demanded is _____ than the quantity supplied
If a market is in disequilibrium, economists would predict that the product's price would _____ to reach equilibrium when the quantity demanded is _____ than the quantity supplied
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If a market is in disequilibrium, economists would predict that the product's price would _____ to reach equilibrium when the quantity demanded is _____ than the quantity supplied.
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- If a market is in disequilibrium, economists would predict that the product's price would rise to reach equilibrium when the quantity demanded is greater than the quantity supplied.
When there is a shortage in the market (when the quantity demanded is greater than the quantity supplied), the forces of demand and supply would act such that the price increases so that the quantity demanded reduces and the quantity supplied increases until an equilibrium is attained.
- If a market is in disequilibrium, economists would predict that the product's price would fall to reach equilibrium when the quantity demanded is less than the quantity supplied.
When there is a surplus in the market (when the quantity supplied is greater than the quantity demanded ), the forces of demand and supply would act such that the price falls so that the quantity demanded increases and the quantity supplied reduces until an equilibrium is attained.
