what happens when the quantity of a good supplied at a given price is greater than the quantity demanded?\n…
what happens when the quantity of a good supplied at a given price is greater than the quantity demanded?\n- excess supply\n- stable prices\n- exact equilibrium\n- increased production
Answer
Brief Explanations:
In economics, when the quantity supplied of a good at a given price exceeds the quantity demanded, it results in an excess of goods in the market, known as excess supply. Stable prices occur at equilibrium where quantity supplied equals quantity demanded. Exact equilibrium is when supply and demand are equal. Increased production would further exacerbate the situation if supply already exceeds demand.
Answer:
excess supply