Complete the Following Sentence.A Surplus

question 150

Multiple Choice

Complete the following sentence.A surplus

• A)exists if the price is above the equilibrium price.
• B)is the amount by which the quantity demanded exceeds the quantity supplied.
• C)is the amount by which the quantity demanded exceeds the equilibrium quantity.
• D)is the amount by which the quantity supplied exceeds the equilibrium quantity.
• E)will lead to rising prices.

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Definitions:

Costly to Ship

Refers to items or materials that are expensive to transport, typically because of their weight, size, or special handling requirements.

Degree of Monopoly

Measures the level of market control and price-setting power possessed by a monopolist.

Very Localized

Referring to something that is confined to a very small or specifically defined geographic area or community.

Total Sales

The aggregate revenue generated from selling goods or services over a specified period.