A surplus of a product will arise when price is above equilibrium with the result that quantity demanded exceeds quantity supplied. above equilibrium with the result that quantity supplied exceeds quantity demanded. below equilibrium with the result that quantity demanded exceeds quantity supplied. below equilibrium with the result that quantity supplied exceeds quantity demanded.

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06-12-2022
Social Studies

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A surplus of a product will arise when price is above equilibrium with the result that quantity demanded exceeds quantity supplied. above equilibrium with the result that quantity supplied exceeds quantity demanded. below equilibrium with the result that quantity demanded exceeds quantity supplied. below equilibrium with the result that quantity supplied exceeds quantity demanded.

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contexto38 contexto38 · Answer 1 · 2022-12-13T03:11:41-05:00

Out of the choices provided above, it can be concluded that a surplus of a product will arise when price is above equilibrium, with the result that quantity supplied exceeds quantity demanded. Therefore, the option B holds true.

A condition of equilibrium in the economy can be referred to or considered as the situation wherein the forces of demand and supply are equal to each other. A surplus occurs in equilibrium because the price above the equilibrium price leads to a more supply from the producers at higher prices. However, the consumers are not willing to spend in this economic condition.

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