Homework Clinic
Social Science Clinic => Economics => Microeconomics => Topic started by: aabwk4 on May 24, 2019
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A surplus of cardboard boxes means that
◦ at the current price of a cardboard box, the quantity demanded exceeds the quantity supplied.
◦ at the current price of a cardboard box, the quantity demanded is less than the quantity supplied.
◦ the current price of a cardboard box is less than the equilibrium price.
◦ at the current price of a cardboard box, the quantity demanded equals the quantity supplied and the price will fall to restore the equilibrium.
◦ More information is needed to determine if the price of cardboard boxes is higher than, lower than, or equal to the equilibrium price.
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at the current price of a cardboard box, the quantity demanded is less than the quantity supplied.