The Current Price of Neckties Is $30 and the Equilibrium

question 220

Multiple Choice

The current price of neckties is $30 and the equilibrium price of neckties is $25.As a result,

• A)the quantity supplied of neckties exceeds the quantity demanded of neckties at the $30 price.
• B)the equilibrium quantity of neckties exceeds the quantity demanded at the $30 price.
• C)There is a surplus of neckties at the $30 price.
• D)All of the above are correct.

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