jadekosier61 jadekosier61
  • 19-05-2021
  • History
contestada

If prices are set higher than the
equilibrium price, what economic term
describes the resulting extra goods?

Respuesta :

41896
41896 41896
  • 19-05-2021

Answer:

Regardless of the cause, we see in Figure 3.6b that a price above equilibrium will result in quantity supplied being greater than quantity demanded. This excess supply is also known as a surplus.

Explanation:

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