If a Surplus Currently Exists in the Market for Apples

question 106

Multiple Choice

If a surplus currently exists in the market for apples, which of the following statements is most accurate?

• A) The quantity of apples demanded exceeds the quantity supplied, and the market price is below the equilibrium price.
• B) The quantity of apples supplied exceeds the quantity demanded, and the market price is above the equilibrium price.
• C) The quantity of apples supplied exceeds the quantity demanded, and the market price equals the equilibrium price.
• D) The quantity of apples supplied exceeds the quantity demanded, and the market price is below the equilibrium price.

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Definitions:

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American Political History

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