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leonid [27]
4 years ago
13

Please select the best answer from the choices provided A situation in which quantity demanded is greater than quantity supplied

best describes a. excess supply. b. shortage. c. equilibrium of demand. d. surplus.
Business
2 answers:
Black_prince [1.1K]4 years ago
5 0
<span>A situation in which quantity demanded is greater than quantity supplied best describes shortage. Shortage is when any product or service lacks the means to provide or satisfy its demand. A shortage in the product or service usually results to a price increase. On the other hand, a surplus results to a price decrease.</span>
Gnoma [55]4 years ago
5 0

Answer: b). Shortage

Explanation:

Shortage as the name suggests is the relative scarcity of goods in comparison to its demand. Shortage occurs when quantity demanded of a good is greater than its supply. In situations of shortage, the price of the good will rise and the quantity demanded will fall till it is equal to the supply.

So, the correct option is b). shortage

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Jia is considering whether to go out to dinner at a restaurant with her friend. The meal is expected to cost $40, jia typically
julsineya [31]

Jia cost & benefit associated with going out to dinner is $58 and $63 respectively.

Basically, the calculation is about getting the amount that Jia spent and benefit during the dinner with her friend.

<u>Calculation of Jia's cost</u>

The cost includes expected cost of $40 for meal, $8 for tip (20%*$40) and $10 for Uber transport (To and fro)

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In conclusion, Jay's cost associated with going out to dinner with her friend is $58.

<u>Calculation of Jia's benefit</u>

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See similar answer here

<em>brainly.com/question/21122864</em>

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4 years ago
How are u supposed to answer another persons question
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