Exhibit 4-3

-If the price of the good described in Exhibit 4-3 is $1.60, then there is a

Name: Exhibit 4-3 -If the price of the good described in Exhibit 4-3 is $1.60, then there is a
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Question

Exhibit 4-3
 
-If the price of the good described in Exhibit 4-3 is $1.60, then there is a

Quizplus · Accepted Answer

A surplus occurs when the quantity supplied exceeds the quantity demanded at a given price. If the price is $1.60 and there is a surplus of 30 units, it means that at this price, suppliers are willing to sell 30 more units than consumers are willing to buy.

Exhibit 4-3 -If the Price of the Good Described in Exhibit 4-3