A surplus will result whenever the:

Name: A surplus will result whenever the:
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Question

Quizplus · Accepted Answer

A surplus will occur when there is a price floor above the equilibrium price. This is because the price floor sets a minimum price above what the market would naturally settle at. As a result, there will be excess supply, as producers will be willing to supply more than consumers are willing to buy at the higher price. This excess supply is known as a surplus.

A Surplus Will Result Whenever The