A surplus occurs when the price is
A) equal to the equilibrium price.
B) less than the equilibrium price.
C) greater than the equilibrium price.
D) None of the above because the existence of a surplus is independent of the price of the good.
Correct Answer:
Verified
Q248: Q249: The price of a good will fall Q250: If there exists a shortage in the Q251: When there is a surplus in the Q252: If the price is above the equilibrium Q254: Q255: Suppose the equilibrium price for soft drinks Q256: If the quantity demanded exceeds the quantity Q257: When the price of a good is Q258: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)
