A Surplus Exists in the Market When

question 74

Multiple Choice

A surplus exists in the market when

• A)the quantity demanded exceeds the quantity supplied.
• B)supply and demand are equal.
• C)the quantity demanded is less than the quantity supplied.
• D)the supply curve has shifted to the left.
• E)the equilibrium price is too low.

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Definitions:

Standard Deviation

The statistical measurement that calculates the spread or dispersion of a dataset relative to its mean, providing insight into the concentration of data points.

Observations

The act of recording data or information gathered from scientific or statistical study.

Millions

A numerical count or quantity equivalent to one thousand thousands or 10^6.

Standard Deviation

A measure of the dispersion or variability of a set of numbers, indicating how spread out the numbers are from their average value.