A Surplus of a Product Will Arise When Price Is

question 1

Multiple Choice

A surplus of a product will arise when price is

• A) above equilibrium, with the result that quantity demanded exceeds quantity supplied.
• B) above equilibrium, with the result that quantity supplied exceeds quantity demanded.
• C) below equilibrium, with the result that quantity demanded exceeds quantity supplied.
• D) below equilibrium, with the result that quantity supplied exceeds quantity demanded.

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Definitions:

Cerebellum

A region of the brain that plays an important role in motor control, coordination, precision, and timing of movements.

Medulla

An essential part of the brainstem involved in regulating breathing, heart rate, and other autonomic functions.

Cerebral Cortex

The outer layer of neural tissue of the cerebrum of the brain, playing a key role in memory, attention, perception, awareness, thought, language, and consciousness.

Hypothalamus

A region of the brain below the thalamus that coordinates both the autonomic nervous system and the activity of the pituitary, controlling body temperature, hunger, thirst, fatigue, sleep, and circadian cycles.