This topic contains a solution. Click here to go to the answer

Author Question: If a surplus of a product currently exists in the market, a. the market price is too low. b. the ... (Read 55 times)

beccaep

  • Hero Member
  • *****
  • Posts: 535
If a surplus of a product currently exists in the market,
 a. the market price is too low.
  b. the quantity demanded exceeds the quantity supplied at the current price.
  c. the quantity supplied exceeds the quantity demanded at the current price.
  d. there is a shortage of the product.
  e. there will be a tendency for the price to rise.

Question 2

A surplus means a(n):
 a. excess demand for this product.
  b. situation where the current market price is too low.
  c. situation where the quantity demanded exceeds the quantity supplied.
  d. situation where the quantity supplied is less than the quantity demanded.
  e. excess supply of the product at the current price.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

poopface

  • Sr. Member
  • ****
  • Posts: 339
Answer to Question 1

c

Answer to Question 2

e




beccaep

  • Member
  • Posts: 535
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


anyusername12131

  • Member
  • Posts: 327
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

For a complete list of videos, visit our video library