A Surplus Exists in a Market If

question 184

Multiple Choice

A surplus exists in a market if

• A)there is an excess demand for the good.
• B)the situation is such that the law of supply and demand would predict an increase in the price of the good from its current level.
• C)the current price is above its equilibrium price.
• D)None of the above is correct.

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Definitions:

Function

In programming, a reusable piece of code designed to perform a specific task, taking some inputs and returning an output.

Report

A structured presentation of data retrieved from a database or other data sources, often formatted for easy analysis or decision-making.

Label

An element in user interfaces used to display text to the user, often describing another interface control.

If Statement

A conditional statement in programming that executes a block of code if a specified condition is true.