Refer to the information provided in Figure 3.15 below to answer the question(s) that follow. Figure 3.15
-Refer to Figure 3.15. The current quantity of bags of pretzels supplied is 100. You accurately predict that in this market

Question

Refer to the information provided in Figure 3.15 below to answer the question(s) that follow.  Figure 3.15
-Refer to Figure 3.15. The current quantity of bags of pretzels supplied is 100. You accurately predict that in this market

Quizplus · Accepted Answer

When the quantity supplied is higher than the quantity demanded, there is a surplus, leading to a decrease in price. As the price decreases, the quantity demanded increases while the quantity supplied decreases until equilibrium is reached.

Refer to the Information Provided in Figure 3