When there is a surplus in the market, the quantity sold is
A) equal to the quantity supplied.
B) equal to the quantity demanded.
C) less than the quantity demanded.
D) greater than the quantity bought.
B
Economics
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If markets are perfectly competitive, then the production of goods
A) will use the least costly combination of resources. B) will occur at an average total cost value that is above the minimum. C) will require government intervention. D) will always lead to business failures.
Economics
An increase in personal income taxes would shift AD to the:
A. Right because C will increase B. Left because C will decrease C. Right because G will increase D. Left because G will decrease
Economics