Kizspy | Question: 22 (Choose 1 answer)
If a surplus exists in a market, then
A. the actual market price is above the equilibrium price, and quantity supplied is greater than quantity demanded.
B. the actual market price is above the equilibrium price, and quantity demanded is greater than quantity supplied.
C. the actual market price is below the equilibrium price, and quantity demanded is greater than quantity supplied.
D. the actual market price is below the equilibrium price, and quantity supplied is greater than quantity demanded.
