Which explains the connection between the law of demand and excess demand?
O The law states that decreases in price leads to greater quantity demanded and limited supply, which occurs during
excess demand.
The law states that increases in price increases leads to greater quantity demanded and limited supply, which
occurs during excess demand.
The law states that decreases in price leads to greater supply and equilibrium, which occurs during excess
demand.
The law states that increases in price leads to greater supply and equilibrium, which occurs during excess
demand.

Question

27-05-2024
History

Answered

Which explains the connection between the law of demand and excess demand?
O The law states that decreases in price leads to greater quantity demanded and limited supply, which occurs during
excess demand.
The law states that increases in price increases leads to greater quantity demanded and limited supply, which
occurs during excess demand.
The law states that decreases in price leads to greater supply and equilibrium, which occurs during excess
demand.
The law states that increases in price leads to greater supply and equilibrium, which occurs during excess
demand.

Answer :

Other Questions

Which of the following is the most likely effect of urban sprawl? A. less destruction of natural habitats B. increased shortages of water and other resources C.

T/F? The Neutrality Act of 1935 made it illegal for Americans to sell arms to any country

Describe the rule you need in order to divide a fraction.

What is 19/25 in decimal form

I need help solving equations with variables on both sides. Please help and show me the work! x+3= -x-5

What does radiation mean?

When does technology become assistive technology? A:)When it does something quicker than normal B:)When it corrects a mistake C:)When someone with a disability

Viruses can transfer genetic material between cells by _____________________________. Select one: a. acting like a syringe that sucks DNA out of one cell and in

Sea otters are important predators of sea urchins, an animal that eats giant brown kelp in continental shelf zones where they form huge kelp beds. It was observ

What factors explain the difference in biodiversity between the tundra and the tropical rain forest?

GinnyAnswer GinnyAnswer · Answer 1 · 2024-05-27T16:07:29-04:00

Final answer:

The law of demand explains the negative relationship between quantity and price. Excess demand happens when quantity demanded surpasses the available supply at a given price level.

Explanation:

The law of demand states that quantity and price are negatively related.

When the price of a product increases, the quantity demanded decreases.

Excess demand occurs when the quantity demanded exceeds the available supply at a specific price level.

Learn more about Law of Demand and Excess Demand here:

https://brainly.com/question/30427152