If a surplus exists in a market we know that the actual price is
A) above equilibrium price and quantity supplied is greater than quantity demanded.
B) above equilibrium price and quantity demanded is greater than quantity supplied.
C) below equilibrium price and quantity demanded is greater than quantity supplied.
D) below equilibrium price and quantity supplied is greater than quantity demanded.

Question

Quizplus · Accepted Answer

A surplus occurs when the actual price is above the equilibrium price, leading to a situation where the quantity supplied exceeds the quantity demanded.

If a Surplus Exists in a Market We Know That