erm 2ageer 17What happens when there is a surplus in a market?a. There are too many buyers chasing too few goods.O b. There is upward pressure on price.c.There is downward pressure on price.d. The market is operating below the equilibrium level.Jump to...Time left 0:58:05NEXT PAGE

The equilibrium refers to economic condition where demand and supply forces are equal.

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What happens when there is a surplus in a market? a. There are too many buyers chasing too few goods.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 19RQ: When the price is above the equilibrium, explain how market forces move me market price to...

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Question

erm 2
age
er 17
What happens when there is a surplus in a market?
a. There are too many buyers chasing too few goods.
O b. There is upward pressure on price.
c.
There is downward pressure on price.
d. The market is operating below the equilibrium level.
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Time left 0:58:05
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