Exhibit 3-8 Demand and supply data for radios

-In Exhibit 3-8,if there is a surplus of radios of 200 units,the current price of radios must be;

Question

Exhibit 3-8 Demand and supply data for radios
 
-In Exhibit 3-8,if there is a surplus of radios of 200 units,the current price of radios must be;

Quizplus · Accepted Answer

A surplus occurs when the quantity supplied exceeds the quantity demanded, which typically happens at a price above the equilibrium price. In this context, $60 is likely the price at which the surplus of 200 units occurs.

Exhibit 3-8 Demand and Supply Data for Radios