If a Surplus of a Product Currently Exists in the Market

question 52

Multiple Choice

If a surplus of a product currently exists in the market,

• A) the market price is too low.
• B) the quantity demanded exceeds the quantity supplied at the current price.
• C) the quantity supplied exceeds the quantity demanded at the current price.
• D) there is a shortage of the product.
• E) there will be a tendency for the price to rise.

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Definitions:

Pfr

Phytochrome Far-red form, a light-absorbing form of the phytochrome plant photoreceptor, significant in regulating plant development in response to light.

Nerve Cord

A major nervous system component in many animals, typically running along the length of the body and functioning as the central pathway for nerve impulses.

Annelids

A phylum of invertebrate worms known for their segmented bodies, which includes earthworms, leeches, and polychaetes.

Arthropods

A diverse phylum of invertebrate animals that have an exoskeleton, a segmented body, and paired jointed appendages, including insects, arachnids, and crustaceans.