A surplus can exist in the market only if there is:

Name: A surplus can exist in the market only if there is:
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Question

Quizplus · Accepted Answer

A surplus occurs when the price is set above the equilibrium price, which happens in the case of a binding price floor. This means the minimum price is set higher than what the market would naturally dictate, leading to excess supply as producers are willing to supply more at that price than consumers are willing to buy.

A Surplus Can Exist in the Market Only If There