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Which term describes the situation where the quantity supplied exceeds the quantity demanded at a given price? A) Shortage B) Surplus C) Equilibrium D) Elasticity

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which term describes the situation where the quantity supplied exceeds the quantity demanded at a given price? A) Shortage B) Surplus C) Equilibrium D) Elasticity

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