A surplus of any given commodity can be expected whenever the:
A) prevailing price of the good is below the equilibrium price.
B) prevailing price of the good is above the equilibrium price.
C) prevailing price of the good is equal to the equilibrium price.
D) amount demanded exceeds the amount supplied.
Correct Answer:
Verified
Q102: A surplus of a product will arise
Q146: In a competitive market, if the existing
Q147: Q148: If a product is in surplus supply, Q149: At the point where the demand and Q150: Which would cause an increase in quantity Q152: At the equilibrium price: Q153: In a competitive market the equilibrium price Q154: With a downward sloping demand curve and Q155: Refer to the diagram below for the
A)quantity supplied may exceed
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