When Producers Produce More Than the Equilibrium Quantity

question 91

Multiple Choice

When producers produce more than the equilibrium quantity:

• A) resources are wasted producing goods at a higher cost than consumers are willing to pay.
• B) the market is operating at an abnormally high level of efficiency.
• C) sellers have an incentive to reduce their price.
• D) buyers have an incentive to offer a higher price.

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Definitions:

High-density I/O modules

Input/Output modules designed to handle a large number of signals in a compact physical space in automation systems.

Common mode rejection ratio

A measure of how well a device can reject input signals that are common to both input leads, importance in differential amplifiers.

Resolution

The smallest distinguishable increment into which a quantity is divided.

Input impedance

The impedance presented by an electrical device or circuit at its input, affecting how it interacts with the signal sources connected to it.