If a surplus exists in a market, then the actual price is:
A) above the equilibrium price and quantity supplied is greater than quantity demanded.
B) above the equilibrium price and quantity demanded is greater than quantity supplied.
C) below the equilibrium price and quantity demanded is greater than quantity supplied.
D) below the equilibrium price and quantity supplied is greater than quantity demanded.
E) equal to the equilibrium price and quantity supplied is equal to quantity demanded.
Correct Answer:
Verified
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