2. State a price at which there would be a surplus of cort and explain why.

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02-11-2021
Mathematics

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2. State a price at which there would be a surplus of cort and explain why.

Sagot :

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GlammingGirl GlammingGirl · Answer 1 · 2021-11-02T08:16:52-04:00

GlammingGirl GlammingGirl

02-11-2021

A surplus exists when the price is above equilibrium, which encourages sellers to lower their prices to eliminate the surplus. A shortage will exist at any price below equilibrium, which leads to the price of the good increasing. For example, imagine the price of dragon repellent is currently $6 per can.

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