When a Surplus Exists in a Market, We Know That

question 247

Multiple Choice

When a surplus exists in a market, we know that the actual price is:

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

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Definitions:

Competitive Strategy

A planned approach adopted by a company to achieve a competitive advantage and outperform its rivals.

Marketing and Sales Strategy

A plan of action designed to promote and sell a product or service, combining market research, product development, and promotional techniques.

Segmented

Divided into separate parts or sections, often to categorize or target different markets or demographics more effectively.

Positioned

The state of being placed or located in a particular spot or condition, often in strategic locations for business or logistical advantages.