A surplus exists
A) in equilibrium.
B) when quantity supplied is greater than quantity demanded.
C) when quantity supplied is less that quantity demanded.
D) at the market clearing price.
B
Economics
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Which of the following is NOT a reason for Canada to join NAFTA?
a. Canadian firms can expand their markets by selling to the United States and Mexico. b. Canadian firms can enjoy lower average costs by producing more. c. Canada did not want U.S. products to dominate its domestic market. d. Canada will see an increase in income and employment by joining NAFTA.
Economics
An increase in the price of a good will
a. increase demand. b. decrease demand. c. increase quantity demanded. d. decrease quantity demanded.
Economics