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How do you response for excess demand and excess supply?

In: Economics [Edit categories]

Answer:

Increase the price

First answer by ID2865991806. Last edit by ID2865991806. Question popularity: 1 [recommend question].

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What happens when you have excess demand and excess supply?
You start to melt, your eyes come out and you start to feel sticky. Suddenly, you die!!
What are elimination of excess demand and excess supply?
D. Equilibrium When supply and demand are equal (i.e. when the supply function and demand function intersect) the economy is said to be at equilibrium. At this point, the allocation of goods is at...
What happens to price when there is excess demand?
then the price goes up
Does the US have an excess food supply?
YES.
What situation can lead to excess demand?
Scarcity of the product, or if the price of the product has dropped. JohnnyChampagne's answer: When quantity demanded is more than quantity supplied. When the actual price in a market is below the...