Question

.
Surplus is _____.


a situation in which quantity demanded is greater than quantity supplied


the point at which quantity demanded and quantity supplied are equal


the financial and opportunity costs consumers pay when searching for a good or service


a situation in which quantity supplied is greater than quantity demanded
GPT-4o mini
Surplus is **a situation in which quantity supplied is greater than quantity demanded**.

Related Questions

Given the associated quantity demanded, 1, and quantity supplied, Q2; which of the following describ... If price is above the equilibrium level, competition among sellers to reduce the resulting: s... Which is TRUE about shortage? Group of answer choices The quantity demanded is greater than the... Search costs are _____. a situation in which quantity demanded is greater than quantity supplie...