Which of the following best describes a market shortage (excess demand)? Group of answer choices A shortage will occur when price is below the true equilibrium price and quantity demanded is greater...

Which of the following best describes a market shortage (excess demand)?

Group of answer choices

A shortage will occur when price is below the true equilibrium price and quantity demanded is greater than quantity supplied.

A shortage will occur when price is above the true equilibrium price and quantity demanded is greater than quantity supplied.

A shortage will occur when price is above the true equilibrium price and quantity demanded is less than quantity supplied.

A shortage will occur when price is below the true equilibrium price and quantity demanded is less than quantity supplied.

Jun 08, 2022

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