If a Surplus Exists in a Market, Then We Know

question 229

Multiple Choice

If a surplus exists in a market, then we know that the actual price is

• A)above the equilibrium price, and quantity supplied is greater than quantity demanded.
• B)above the equilibrium price, and quantity demanded is greater than quantity supplied.
• C)below the equilibrium price, and quantity demanded is greater than quantity supplied.
• D)below the equilibrium price, and quantity supplied is greater than quantity demanded.

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Definitions:

Buying Center

A group of individuals within an organization who are responsible for making decisions about significant purchases, evaluating options based on the company's needs.

Premanufacturing Tests

Assessments and evaluations conducted before mass production to ensure product quality and safety.

Business-to-Business

Transactions or activities conducted between businesses rather than between businesses and consumers.

Buying Center

A collection of people in a company who take part in the process of deciding to buy goods or services.