In the table, P = price, Qs = quantity supplied, and Qd equals quantity demanded.

-A surplus will develop in this market when price is:

Name: In the table, P = price, Qs = quantity supplied, and Qd equals quantity demanded. -A surplus will develop in this market when price is:
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Question

In the table, P = price, Qs = quantity supplied, and Qd equals quantity demanded.
 
-A surplus will develop in this market when price is:

Quizplus · Accepted Answer

A surplus occurs when the quantity supplied exceeds the quantity demanded. This typically happens at higher prices, so the highest price listed, $7, is likely to create a surplus.

In the Table, P = Price, Qs = Quantity Supplied