Multiple Choice
If a surplus exists in a market, then we know that the actual price is
A) above the equilibrium price, and quantity supplied is greater than quantity demanded.
B) above the equilibrium price, and quantity demanded is greater than quantity supplied.
C) below the equilibrium price, and quantity demanded is greater than quantity supplied.
D) below the equilibrium price, and quantity supplied is greater than quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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