A Surplus Occurs When the Price Is

question 169

Multiple Choice

A surplus occurs when the price is

• A) greater than the equilibrium price.
• B) equal to the equilibrium price.
• C) less than the equilibrium price.
• D) None of the above because the existence of a surplus is independent of the price of the good.

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Definitions:

Flea

A small, wingless, parasitic insect that feeds on the blood of mammals and birds, known for its ability to jump long distances.

Insect

A class of arthropods with a chitinous exoskeleton, three-part body (head, thorax, abdomen), three pairs of jointed legs, compound eyes, and one pair of antennae.

Accompanying Figure

A visual representation or illustration that is provided to support or enhance textual information.

Arthropods

A phylum of invertebrate animals having an exoskeleton, a segmented body, and jointed appendages, including insects, arachnids, myriapods, and crustaceans.