If the quantity demanded for a product exceeds the quantity supplied, the market price will rise until the quantity demanded equals the quantity supplied. The product will then no longer be scarce. quantity demanded equals quantity supplied. The market price will then equal the equilibrium price. quantity demanded equals quantity supplied. The equilibrium price will then be greater than the market price. only wealthy consumers will be able to afford the product.
This question was answered on: May 23, 2022
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