Multiple Choice
If the price is above the equilibrium price in the market for grapefruit,assuming a positively sloped supply curve and a negatively sloped demand curve,total surplus:
A) will be greater than if price were at equilibrium.
B) will be less than if price were at equilibrium.
C) will be the same as if price were at equilibrium.
D) may be different than if price were at equilibrium,but we cannot determine this without more information.
Correct Answer:

Verified
Correct Answer:
Verified
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