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

Tubdul07

6 years ago

When the quantity demanded exceed quantity surplied it's known as ''excess demand'' or ''shortage'' so the answer is E. none of the above

D290

4 years ago

yes is E ,when it is above is excess supply but when is below the equilibrum price is excess demand.

damcul

10 years ago

Its nt Inelastic supply... It is known as SHORTAGE

queen321

7 years ago

The answer is (E)...none of the above. Such a situation is referred to as excess demand.

shetex65

8 years ago

it is known as SHORTAGE

Yunusa_Kebiru

11 years ago

Yes the answer is E bcuz,when something is as its in ques. It wil be inelastic suply