excess demand
At a price of $65, consumers demand 650 pairs of shoes, and sellers supply 650 pairs of shoes. The price of $65 (where quantity supplied and quantity demanded both equal 650 pairs of shoes) is the _____. excess price equilibrium price quantity price
equilibrium price
At a price of $50, consumers demand 1,000 pair of shoes, and sellers supply 500 pairs of shoes. At $50, there is _____. excess demand (demand is greater than supply) excess supply (supply is greater than demand) no excess supply or demand
excess demand (demand is greater than supply)
At a price of $100, consumers demand 450 pairs of shoes, and sellers supply 800 pairs of shoes. At $100, there is _____. excess demand (demand is greater than supply) excess supply (supply is greater than demand) no excess supply or demand
excess supply (supply is greater than demand)
excess demand
more demand than needed
excess supply
more supply than needed
At a price of $65, consumers demand 650 pairs of shoes, and sellers supply 650 pairs of shoes. At $65, there is _____. excess demand (demand is greater than supply) excess supply (supply is greater than demand) no excess supply or demand
no excess supply or demand
equilibrium price
price at which quantity supplied meets quantity demanded
equilibrium point
the point at which the supply and demand curves intersect