If the supply and demand curves intersect at a price of $47,then any price above that would result in:
A)a shortage.
B)a surplus.
C)equilibrium.
D)an increase in demand.

Name: If the supply and demand curves intersect at a price of $47,then any price above that would result in: A)a shortage. B)a surplus. C)equilibrium. D)an increase in demand.
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Question

Quizplus · Accepted Answer

At a price above the equilibrium price of $47, the quantity supplied would exceed the quantity demanded, leading to a surplus.

If the Supply and Demand Curves Intersect at a Price