If aggregate quantity demanded is greater than aggregate quantity supplied at a particular price level, then
a. consumers will bid prices upward, and a greater quantity of output will be supplied.
b. the shortage will likely be eliminated.
c. a and b
d. none of the aboveIf aggregate quantity demanded is greater than aggregate quantity supplied at a particular price level, then
a. consumers will bid prices upward, and a greater quantity of output will be supplied.
b. the shortage will likely be eliminated.
c. a and b
d. none of the above