1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alexxx [7]
3 years ago
10

If the price of a product is higher than the equilibrium, what will occur?

Social Studies
2 answers:
Neporo4naja [7]3 years ago
8 0

Answer:

A product surplus will occur.

Explanation:

When the price of a product is balanced, there is a balance between supply and demand for that product. In this case, all the product produced is purchased, not allowing for a product overage or surplus.

However, a price outside the equilibrium price will interfere with product availability. This is because when the price is below the equilibrium price (the price is very cheap) the demand for this product will be higher than its production and there will be a shortage of the product in the market. On the other hand, if the price is above the equilibrium price (the price is too expensive) people will stop buying the product, the demand in this case will be less than the supply and there will be a surplus of the product.

telo118 [61]3 years ago
5 0

Answer:

Surplus and shortage

Explanation:

Surplus and shortage: If the market price is above the equilibrium price, quantity supplied is greater than quantity demanded, creating a surplus. Market price will fall. ... If the market price is below the equilibrium price, quantity supplied is less than quantity demanded, creating a shortage. please mark me bran-list please and i may answer more questions for you

You might be interested in
A.)how did trade encourage European exploration?
podryga [215]
A. They were trying to find a trade route to make trading easier, so they explored a whole lot more.
B. The Colombian Exchange contributed to the rise of slave trade because when they picked up goods, they just piled 100 or so slaves in the bottom deck. Once a few people had some, many others began to want them and supply and demand skyrocketed. It was easy because the slaves had a different skin color and spoke a different language. The Europeans did not see them as people.
7 0
3 years ago
Amber is conducting research for a presentation about the first person from the United State to travel to space.
Alekssandra [29.7K]

Answer: A!

Explanation: an encyclopedia! I did

5 0
3 years ago
Read 2 more answers
Ina presidential democracy, citizens can vote directly for their leader. In a parliamentary democracy, who elects the leader
omeli [17]
The president elects the leader
8 0
3 years ago
Read the chart. States and cities spent about the same amount on which budget category in 2015? public welfare higher education
tatyana61 [14]

Answer:

Health and hospitals.

Explanation:

Health and hospital budget are given special attention in any country. If the country is poor its health budget is given maximum fund to ensure good health care facilities for the citizens. Cities and States spend about same amount on health and hospitals budget to ensure the health care facility availability in the country and to deal with any pandemic diseases.

4 0
4 years ago
What does it mean to wage a total war?
Alla [95]
A total war is when there are no restrictions on weapons used, the territory or warriors involved, or the objects pursued.
5 0
3 years ago
Other questions:
  • ____________________ is a pathological form of grieving that tends to last longer than normal grieving and is accompanied by imp
    15·2 answers
  • When the U.S. Supreme Court makes a decision in a case, how is their opinion on the case determined ?
    15·1 answer
  • While trying to learn what a "dog" is, Arash mentally compares every animal to his family's new puppy. If the animal is similar
    7·1 answer
  • Which explains why Supreme Court justices are given lifetime appointments?
    8·2 answers
  • Hall bladder what is​
    7·1 answer
  • A person with maritime training would MOST likely be qualified for a job at which of these?
    8·1 answer
  • How did corruption affect the gdp of Colombia?<br><br> Is there a specific event that happened?
    13·1 answer
  • What is domestic violence?
    13·1 answer
  • What did people in Tubman's time believe about slavery?​
    13·1 answer
  • The largest category of primary malignant brain tumors that arise from cells in the cns are called:________
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!