-Refer to the above figure. A surplus will exist when
A) the price is between $0 and $6.
B) the price equals $6.
C) the price equals $10.
D) quantity demanded equals 15.

Question

-Refer to the above figure. A surplus will exist when
A) the price is between $0 and $6. 
B) the price equals $6. 
C) the price equals $10. 
D) quantity demanded equals 15.

Quizplus · Accepted Answer

A surplus occurs when the price is set above the equilibrium price, where quantity supplied exceeds quantity demanded. In the context provided, without seeing the figure, the typical interpretation is that at a price of $10, assuming it is above the equilibrium price (which is not specified but can be inferred from the options), there would be more of the good or service supplied than demanded, leading to a surplus.

-Refer to the Above Figure