History, 24.01.2020 07:31 probablyacommunist

Which explains the connection between the law of demand and excess demand?
the law states that decreases in price leads to greater quantity demanded and limited supply, which occurs during excess
demand
the law states that increases in price increases leads to greater quantity demanded and limited supply which occurs
during excess demand
the law states that decreases in price leads to greater supply and equilibrium which occurs during excess demand
the law states that increases in price leads to greater supply and equilibrium which occurs during excess demand
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The connection between the law of demand and excess demand is explained as the law states that decreases in price leads to greater quantity demanded and limited supply, which occurs during excess demand.

Explanation:

Law of demand: It states that the price and quantity demand of a product or service are inversely related to each other. The demand for the good is reduced, when the price of the same good is increased.

Excess demand: The situation of excess demand arises when the quantity of the product demanded is more than the quantity of the product supplied. As the demand of the product increases, the market price of the product is also increased.

Answer from: sti192

Explanation:

Answer from: Quest

social contract theory, nearly as old as philosophy itself, is the view that persons' moral and/or political obligations are dependent upon a contract or agreement among them to form the society in which they liv

Answer from: Quest

how did the pendleton civil service act weaken the spoils system after president garfield died?

the act forced federal employees to pass competitive exams.

the act said that federal employees could be fired for political reasons.

the act said that company contracts and kickbacks were illegal.

the act stopped the reform movement in its tracks.

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Which explains the connection between the law of demand and excess demand?
the law states tha...