Excess demand for commodity
When do we state that there is an excess demand for a commodity in the market?
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If at a given price, the quantity demanded of a product surpasses its quantity supplied, there is an excess demand for product.
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The slope of the ray by the origin which is tangent to point b equivalents to: (w) the reciprocal of the price elasticity of demand. (x) P / Q. (y) 0a / 0c. (z) the price elasticity of supply. Discover Q & A Leading Solution Library Avail More Than 1443906 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1953763 Asked 3,689 Active Tutors 1443906 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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