A surplus exists in a market if
A) there is an excess demand for the good.
B) quantity demanded exceeds quantity supplied.
C) the current price is above its equilibrium price.
D) All of the above are correct.
Correct Answer:
Verified
Q18: Equilibrium quantity must increase when demand
A)increases and
Q19: Equilibrium price must decrease when demand
A)increases and
Q20: If the supply of a product decreases,then
Q21: The law of supply and demand asserts
Q23: When a shortage exists in a market,sellers
A)raise
Q24: When the price of a good is
Q25: If a shortage exists in a market,then
Q26: Which of the following would cause price
Q27: Suppose chocolate-dipped strawberries are currently selling for
Q259: If the supply of a product increases,
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