When the price of a commodity is below the equilibrium price the quantity demanded will…

Home » Past Questions » Economics » Jamb » 1979 » When the price of a commodity is below the equilibrium price the quantity demanded will…
Economics JAMB 1979

When the price of a commodity is below the equilibrium price the quantity demanded will exceed the quantity supplied. Such a situation is referred to as

  • elastic supply
  • joint demand
  • excess supply
  • derived demand
  • none of the above checkmark

The correct answer is: E

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn.
Previous Question Next Question

Leave A Comment