When the price of a good is above the equilibrium, there will be _____________
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Correct Answer: Option B
Explanation:
If the price of a good is above equilibrium, this means that the quantity of the good supplied exceeds the quantity of the good demanded. There is a surplus of the goods on the market.
If the price of a good is above equilibrium, this means that the quantity of the good supplied exceeds the quantity of the good demanded. There is a surplus of the goods on the market.