If There Is a Surplus of a Product, We Can

question 80

Multiple Choice

If there is a surplus of a product, we can conclude that

• A)the product's price is above equilibrium.
• B)the product's price is too low for equilibrium.
• C)quantity demanded exceeds quantity supplied.
• D)the product's price will rise.
• E)consumers want to buy more than is being made available by producers.

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Definitions:

Truth Table

A mathematical table used to determine the truth value of a logic expression based on all the possible combinations of its variables.

Contingent

Dependent on or conditioned by something else; subject to chance or variability.

Formula

A mathematical relationship or rule expressed in symbols, typically used to solve problems or to define a process.

Truth Table

A mathematical table used in logic to determine the truth values of a logical expression based on the truth values of its inputs.