Answered

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QUESTION 41
The market pricing system corrects an excess supply by
Oa. lowering the product price, thereby reducing quantity demanded and increasing quantity supplied.
Ob. raising the product price, thereby reducing quantity supplied and increasing quantity demanded.
◇ c. lowering the product price, thereby reducing quantity supplied and increasing quantity demanded.
Od. raising the product price, thereby reducing quantity demanded and increasing quantity supplied.

Sagot :

GinnyAnswer

Final answer:

Excess supply in the market is corrected by lowering the product price to increase quantity demanded and reduce quantity supplied.


Explanation:

The market pricing system corrects an excess supply by lowering the product price, thereby increasing quantity demanded and reducing quantity supplied. This adjustment helps bring the market back to equilibrium.


Learn more about Market Equilibrium here:

https://brainly.com/question/32940222


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