if quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium? the…
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
Answer
Brief Explanations:
When quantity demanded exceeds quantity supplied, there is a shortage. To reach equilibrium, higher prices will incentivize producers to supply more and also reduce the quantity demanded by consumers according to the laws of supply and demand.
Answer:
The price needs to increase