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You walk down into your basement to find that the carpeting on the floor is damp.Concerned,you look around for large puddles of water or broken pipes,but find none.In fact,only the basement floor and carpeting is damp.You realize that water must have wicked into the carpet from the floor by ________.
Surplus
A surplus of goods or services available compared to the demand, typically resulting in lower prices.
Price Ceiling
A legal maximum price set by the government for goods and services, intended to prevent prices from rising above a certain level.
Equilibrium Price
The price at which the quantity of a product offered is equal to the quantity of the product in demand, leading to market stability where there is no shortage or surplus.
Temporary Surplus
A situation where the supply of a product exceeds its demand for a short period, often leading to price reductions.
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