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A surplus of product will arise when price is: 1.above equilibrium with the result that quantity demanded exceeds quantity supplied 2.below equilibrium with the result

A surplus of product will arise when price is:

1.above equilibrium with the result that quantity demanded exceeds quantity supplied

2.below equilibrium with the result that quantity demanded exceeds quantity supplied

3.above equilibrium with the result that quantity supplied exceeds quantity demanded

4.none of the above5.below equilibrium with the result that quantity supplied exceeds quantity demanded

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