There Will Be a Surplus of a Product When

question 88

Multiple Choice

There will be a surplus of a product when

• A) price is below the equilibrium level.
• B) the supply curve is downward sloping and the demand curve is upward sloping.
• C) the demand and supply curves fail to intersect.
• D) consumers want to buy less than producers offer for sale.

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Definitions:

Simp

A slang term often used derogatorily to describe a person who shows excessive sympathy or attention towards another person, sometimes in pursuit of a romantic relationship, without receiving any affection in return.

Add

To combine one or more numbers or quantities to get a sum or total.

Inference Forms

Logical structures that guide the transition from premises to conclusions in reasoning.

MP

Member of Parliament, an individual elected to represent a geographic area in the parliament.