Author Question: If a surplus of a product currently exists in the market, a. the market price is too low. b. the ... (Read 61 times)

beccaep · **on:** Jun 30, 2018

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.