Diagram shows excess supply at price ___

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Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Market Equilibrium

Question:

Diagram shows excess supply at price _______ and equilibrium at price_______.

Options:

p*, p_f

p_f, p*

p_f, p_f

p*, p*

Correct Answer:

p_f, p*

Explanation:

The correct answer is option 2: p_f, p*

Excess supply exists at price p_f and equilibrium at price p*.