In the city of Westminster,Christmas trees are being sold for $25.At this price,buyers are able to satisfy their demand,though some trees remain unsold.This is the market condition known as ________.

Question

Quizplus · Accepted Answer

A surplus occurs when the quantity supplied of a good or service exceeds the quantity demanded at a given price. In this case, some trees remain unsold even though buyers are willing to pay $25 for them, indicating a surplus in the market.

In the City of Westminster,Christmas Trees Are Being Sold for $25.At