If there is surplus of a good, then the quantity demanded _ _ the quantity supplied and the price will .

Question

Quizplus · Accepted Answer

If there is a surplus of a good, it means that quantity supplied is greater than the quantity demanded. This leads to a situation where the sellers need to lower the price in order to sell their surplus. As a result, the price will fall. Therefore, the correct choice is D) is less than; fall.

If There Is Surplus of a Good, Then the Quantity