When does a surplus occur?
What will be an ideal response?
A surplus occurs when the price is above the equilibrium price. When the price exceeds the equilibrium price, the quantity supplied is greater than the quantity demanded.
Economics
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What is meant by market power? What are the ways in which a monopoly gains market power?
What will be an ideal response?
Economics
Using the expenditure approach, "gross private domestic investment" is the sum of:
a. newly produced capital goods. b. fixed investment. c. changes in business inventories. d. all of these.
Economics