If, at the current price, there is a surplus of a good, then O a. sellers are producing more than buyers wish to buy. the market must be in...
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Screenshot</h1><p class='abPRemoveTitle'> 2019-10-14 at 4.12.20 AM.pngScreenshot 2019-10-14 at 4.12.35 AM.pngScreenshot 2019-10-14 at 4.12.47 AM.png

Screenshot 2019-10-14 at 4.12.20 AM.png

If, at the current price, there is a surplus of a good, then
O a. sellers are producing more than buyers wish to buy.
O b. the market must be in equilibrium.
O c. the price is below the equilibrium price.
O d. quantity demanded equals quantity supplied.

Screenshot 2019-10-14 at 4.12.35 AM.png

Figure 6-4
18 +
Supply
16+
14
12 -
10 +
8.
Demand
6 8 10 12 14 16 18 20 Quantity
Refer to Figure 6-4. A government-imposed price floor of $12 in this market results in
O a. a surplus of 2 units.
O b. a surplus of 4 units.
O c. 12 units sold.
O d. 10 units sold.

Screenshot 2019-10-14 at 4.12.47 AM.png

A market demand curve shows how the total quantity demanded of a good varies as
O a. income varies.
O b. price varies.
O c. price of the nearest substitute good varies.
O d. supply varies.

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