Quantity demanded to exceed quantity supplied

I have a problem in economics on Quantity demanded to exceed quantity supplied. Please help me in the following question. A shortage takes place whenever the current market price causes: (1) Quantity demanded to surpass quantity supplied. (2) Quantity supplied to surpass quantity demanded. (3) Supply prices to surpass demand prices. (4) The buyer’s market.

Select the appropriate answer.

View Complete Question

Related Questions in Microeconomics

Q : Illustrate an example of relative price

Joy waits into a long line at her local bookstore therefore she can be between the first to buy and read a newly-printed hardback copy of the newest Harry Potter adventure. And Lindsay waits till a lower priced paperback edition is printed just before buying any Potte

Q : Higher interest rate in saving and

A higher interest rate shows a: (w) stronger preference for current income over future income. (x) weaker preference for current income over future income. (y) stronger preference for future income over current income. (z) wave of pessimism among inve

Q : Average cost minimization at level of

HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. There level of sales and production at that HoloIMAGine would minimize its average cost [ATC] of production corresponds to as: (1)

Q : Long run supply Illustrate and explain

Illustrate and explain using diagrams, the difference between long run supply in a constant cost individual firm and industry and an increasing cost firm and industry.

Q : Profit-maximizing price and output

Unlike a purely competitive firm, a monopolist can: (w) select a price and sell as much as this needs (x) equate marginal revenue as well as marginal cost to maximize profits. (y) produce any required amount and sell as much as this d

Q : Total revenue of monopolistically

A particular monopolistically competitive firm’s total revenue is probably to increase when this: (w) increases the prices of its products and consumer demand is elastic. (x) maintains its original price even if all of its compe

Q : Unemployment Select right answer for

Select right answer for Unemployment: A) causes the production possibilities curve to shift outward. B) can exist at any point on a production possibilities curve. C) is illustrated by a point outside the production possibilities curve. D) is illustra

Q : Constant price in economic rent

Economic rent is: (1) determined by the supply side. (2) independent of the strength of demand. (3) received whenever owners receive a constant price for a resource that supply curve is upward sloping. (4) included in society's opportunity costs of pr

Q : Law of Diminishing Marginal Utility

The law of diminishing marginal utility might be evidenced by the person: (i) Smoking more however enjoying it less. (ii) Purchasing a new car subsequent to getting an increase. (iii) Distributing excess food to starving children. (iv) Who studies muc

Q : Central problems of an economy

Elucidate the central problems of an economy: A) What to produce? B) How to produce? C) For whom to produce? Answer:

Discover Q & A

Leading Solution Library

Avail More Than 1427739 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1944185
Asked

3,689

Active Tutors

1427739

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment