If at the current price there is a surplus of a good
If, at the current price, there is a surplus of a good, then
sellers are producing more than buyers wish to buy.
the market must be in equilibrium.
the price is below the equilibrium price.
quantity demanded equals quantity supplied.
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a lone shepherd can graze 10 sheep per year in a meadow each additional shepherd who uses the meadow reduces the number
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if at the current price there is a surplus of a good thensellers are producing more than buyers wish to buythe market
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a small consulting firm is only interested in hiring college graduates denoted by s but it does not know how many it
1 from one year to the next nominal gdp rises and the gdp deflator fallsa real gdp must have fallen more than nominal
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