Economics · Microeconomics
In market equilibrium analysis, a situation of excess demand occurs when the:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Prevailing market price is above the equilibrium price
- 2Prevailing market price is below the equilibrium price✓
- 3Quantity demanded equals the quantity supplied exactly
- 4Total market supply exceeds the total market demand
Correct answer
Prevailing market price is below the equilibrium price
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