Use the following to answer questions :
-(Table: Competitive Market for Good Z) Look at the table Competitive Market for Good Z. A surplus of the good will occur at a price of
A)$0.
B)$5.
C)$10.
D)$15.

Question

Use the following to answer questions : 
-(Table: Competitive Market for Good Z) Look at the table Competitive Market for Good Z. A surplus of the good will occur at a price of
A)$0. 
B)$5. 
C)$10. 
D)$15.

Quizplus · Accepted Answer

A surplus occurs when the quantity supplied exceeds the quantity demanded. At a price of $15, the quantity supplied is likely higher than the quantity demanded, leading to a surplus.

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