Use the following to answer question:
-(Table: Competitive Market for Good Z)Use Table: Competitive Market for Good Z.A surplus of the good will occur at a price of
A)$0.
B)$5.
C)$10.
D)$15.

Question

Use the following to answer question: 
-(Table: Competitive Market for Good Z)Use Table: Competitive Market for Good Z.A surplus of the good will occur at a price of
A)$0. 
B)$5. 
C)$10. 
D)$15.

Quizplus · Accepted Answer

A surplus occurs when the price is above the equilibrium price, causing quantity supplied to exceed quantity demanded. At $15, the quantity supplied (500 units) exceeds the quantity demanded (200 units), leading to a surplus.

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