Question

The demand for seats in 10 a.m. classes at the College of the Canyons is higher than the demand for seats in 8 a.m. classes. The supply is fixed. If the college prices classes at the price required to achieve equilibrium at 10 a.m., there will be

Answer 1

If the institution prices classes at the price required to achieve equilibrium at 10 a.m., there will be a surplus at 8 a.m.

What is the demand?

The demand is defined as the quantity of commodity that a customer of a product wants it at each possible prices during a given period of time. This relation of demand with the price is an inverse relation.

In this scenario, the demand for seats at 10 a.m. classes at the College of the Canyons is greater than the demand for seats at 8 a.m. classes.

There will be a surplus at 8 a.m. if the college prices classes at the price required to attain equilibrium at 10 a.m.

Therefore, demand is opposite to the supply.

Learn more about  the demand, refer to:

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