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Naddika [18.5K]
4 years ago
11

If quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium?

Business
2 answers:
Liono4ka [1.6K]4 years ago
6 0

Answer:

The correct answer is option c.

Explanation:

If the demand is greater than supply, it indicates a shortage in the economy. It implies that the economy needs to increase the output level.

To reach the point of equilibrium the price level needs to be increased. We know that the quantity demanded and the price level is inversely related. So, when there is an increase in the price the quantity demanded will decrease.

The supply, on the other hand, is positively related to the price level. So, when the price is increased, the quantity supplied will increase as well.

The increase in price will thus increase the quantity and decrease the quantity demanded in such a way that the equilibrium is achieved.

9966 [12]4 years ago
3 0

Answer:

The price needs to increase.

Explanation:

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Answer:

This is supposed to be based on your own opinion

Explanation:

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3 years ago
Japan's domestic customers in the camera industry generated a high home demand, which has helped stimulate the innovation of cam
alina1380 [7]

Answer:

<u><em>Local demand conditions</em></u>.

Explanation:

Michael Porter developed the diamond model, which is a framework that identifies the factors that help some organizations in a given country to be internationally competitive because they are so innovative.

For Porter companies that have international competitive advantages have a set of localization advantages, which include:

  1. Strategy,
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3 years ago
As a manager, jermaine, defines goals, set performance objectives, and identify action steps for accomplishing them. jermaine is
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If Jermaine defines goals, set objectives and identifies the steps for having to accomplish them, she is engaged with the management function of planning as planning is a function in management in having to make plans in order to acquire specific goals.

3 0
3 years ago
Select the correct answer.<br> Some merchandisers design window displays.<br> A. True<br> B. False
Troyanec [42]
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6 0
4 years ago
A product whose EOQ is 40 units experiences a decrease in ordering cost from $90 per order to $10 per order. The revised EOQ is:
ruslelena [56]

Answer: three times as large

Explanation:

Economic order quantity will be calculated as follows:

EOQ = ✓(2DS/H)

D = Demand in units

Here S = Ordering cost = $10

H = Holding cost

Since S = $10

Therefore, EOQ will be:

= ✓(2DS/H)

= ✓(2 × 10 × D/ H)

= ✓(20D/H)

Since we're to increase the order cost from $10 per order to $90 per order, then EOQ will be:

Since S = $90

Therefore, EOQ will be:

= ✓(2DS/H)

= ✓(2 × 90 × D/ H)

= ✓(180D/H)

3✓20DH

The revised EOQ will then be 3 times as large.

4 0
3 years ago
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