Question

if quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium?○ the supply needs to increase○ the price needs to decrease○ the price needs to increase○ the demand needs to increase

Explanation:

When quantity demanded exceeds quantity supplied (a shortage), higher prices reduce consumer demand (law of demand) and incentivize suppliers to increase output (law of supply). This adjustment continues until the market reaches equilibrium where quantity demanded equals quantity supplied.

Answer:

The price needs to increase