This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A surplus occurs whenever a. current price is greater than equilibrium price b. quantity supplied ... (Read 177 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
on: Jul 1, 2018
A surplus occurs whenever
 a. current price is greater than equilibrium price
  b. quantity supplied exceeds quantity demanded at the equilibrium price
  c. quantity demanded is greater than quantity supplied
  d. the problem of scarcity of a good is solved
  e. some buyers would be willing and able to pay even more for it than they have to at equilibrium

Question 2

When quantity demanded of a good is less than the quantity supplied at the prevailing market price,
 a. the market is in equilibrium
  b. the price of the good tends to rise
  c. the price of the good tends to fall
  d. the demand curve shifts rightward until the surplus is eliminated
  e. the supply curve shifts leftward until the shortage is eliminated


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kaillie

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


Melani1276

  • Member
  • Posts: 516
Reply 2 on: Jul 1, 2018
Gracias!

FergA

  • Member
  • Posts: 352
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Vehicle transmission occurs through contamination of inanimate objects, such as milk. Vehicle transmission occurs through contamination of inanimate objects, such as milk.
Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg
Patient Information Supplied When Scheduling Hospital Admissions Patient Information Supplied When Scheduling Hospital Admissions
When the exhaust is rich, the PCM applies a negative current into the pump cell. When the exhaust is rich, the PCM applies a negative current into the pump cell.
How wide must a narrow slit be if the first diffraction minimum occurs at 12 with laser light ... How wide must a narrow slit be if the first diffraction minimum occurs at 12 with laser light ...
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
Video: The Pressure Flow Model in a Plant

For a complete list of videos, visit our video library