Question
Suppose at the current price of sugar,there isa surplus. This must mean that the price of sugar is currently higher than the equilibrium price. the
Suppose at the current price of sugar,there isa surplus. This must mean that
the price of sugar is currently higher than the equilibrium price.
the price of sugar is currently lower than the equilibrium price.
less sugar is being produced by sellers than buyers want to buy.
sugar is an inferior good
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
6th Canadian Edition
321675606, 978-0321675606
