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:

Cod Supply Curve

Assuming this is a typographical error for "Cost Supply Curve," but if referring specifically to cod (the fish), it's not a standard economic term, thus NO.

Cod Fishery

The industry or practice of catching cod fish, often subject to regulations due to overfishing concerns.

Federal Government

Refers to the national government, and the central authority overseeing an entire country, responsible for areas like national defense, foreign policy, and federal taxation.

Cod Fishery

The industry or practice of catching cod fish, often subject to regulations and quotas due to sustainability concerns.