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There will be a surplus of a product when:

A. Price is below the equilibrium level.

B. The supply curve is downward sloping and the demand curve is upward sloping.

C. The demand and supply curves fail to intersect.

D. Consumers want to buy less than producers offer for sale.

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Prachi Dabas
Prachi DabasLv10
27 Jan 2021

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Related questions

A product market is in equilibrium:

A. when there is no surplus of the product

B. when there is no shortage of the product

C. when consumers want to buy more of the product than producers offer for sale

D. where the demand and supply curves intersect.

The law of supply indicates that other things equal,

A. Producers will produce more at a higher price

B. The supply curve is downward sloping

C. Demand curve is downward sloping

D. Producers will produce more at a low price. 

The law of supply indicates that other things equal:
a. consumers will purchase less of a good at high prices than at low prices.
b. producers will offer more of a good at low prices than at high prices.
c. producers will offer more of a good at high prices than at low prices.
d. the product supply curve is downward sloping.

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