When the price of Frisbees used in the sport of ultimate rises above the equilibrium price, which situation occurs?

Name: When the price of Frisbees used in the sport of ultimate rises above the equilibrium price, which situation occurs?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the price of Frisbees rises above the equilibrium price, it leads to a transfer of consumer surplus to producer surplus because consumers are paying more than they would at the equilibrium price, thereby increasing the benefit (surplus) to producers.

When the Price of Frisbees Used in the Sport of Ultimate