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The figure above represents the market for coffee grinders. Assume that the price of coffee grinders is $50. At this price, Group of answer choices
The figure above represents the market for coffee grinders. Assume that the price of coffee grinders is $50. At this price, Group of answer choices there is a surplus equal to 90 coffee grinders and the price of coffee grinders will fall until demand is equal to supply. the supply exceeds the demand by 90. Some producers will have an incentive to offer to sell coffee grinders at a lower price. there is a surplus equal to 90 coffee grinders that will be eliminated when the price falls to $25. the quantity supplied exceeds the quantity supplied by 100. The price will eventually fall to $25 where quantity demanded will equal quantity supplied
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