If the price of a product does not change immediately,which of the following will cause an initial surplus of a product?
A)An increase in the demand or an increase in the supply.
B)A decrease in the demand or a decrease in the supply.
C)An increase in the demand or a decrease in the supply.
D)A decrease in the demand or an increase in the supply.
E)A change in the quantity demanded.

Question

Quizplus · Accepted Answer

A surplus occurs when the quantity supplied exceeds the quantity demanded. This can happen if there is a decrease in demand (less people want the product) or an increase in supply (more of the product is available) without a change in price.

If the Price of a Product Does Not Change Immediately,which