Surplus Questions
1. True or False: A price floor under the equilibrium point will cause a surplus.
2. A surplus is caused by an excess of (supply/ demand).
3. If the quantity demanded is 300 units of popcorn and the quantity supplied is 200 units of popcorn, is there a surplus? If so, how many units of popcorn is the surplus?
1. True or False: A price floor under the equilibrium point will cause a surplus.
2. A surplus is caused by an excess of (supply/ demand).
3. If the quantity demanded is 300 units of popcorn and the quantity supplied is 200 units of popcorn, is there a surplus? If so, how many units of popcorn is the surplus?