Multiple Choice
Complete the following sentence.A surplus
A) exists if the price is above the equilibrium price.
B) is the amount by which the quantity demanded exceeds the quantity supplied.
C) is the amount by which the quantity demanded exceeds the equilibrium quantity.
D) is the amount by which the quantity supplied exceeds the equilibrium quantity.
E) will lead to rising prices.
Correct Answer:

Verified
Correct Answer:
Verified
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