Difference between revisions of "Surplus"
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(New page: A surplus is the excess in quantity supplied above the quantity demanded. This occurs when the price of a good is higher than the market equilibrium price. When the seller lowers the pri...) |
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Revision as of 01:46, April 9, 2007
A surplus is the excess in quantity supplied above the quantity demanded. This occurs when the price of a good is higher than the market equilibrium price. When the seller lowers the price for that good, more consumers will buy the good and the surplus will disappear.