When excess demand exists in a market,

a. the market price is above the equilibrium price
b. the quantity demanded is greater than the quantity supplied
c. the quantity demanded is less than the quantity supplied
d. a price floor has probably been instituted in the market
e. the market price would need to fall

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Answers

2014-03-02T11:12:53+05:30
B. the quantity demanded is greater than the quantity supplied.
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