anonymous
  • anonymous
Suppose that producers are charging a price that is higher than the equilibrium price. Will this create a surplus or shortage of goods? In 2-3 sentences, explain your answer.
Economics - Financial Markets
katieb
  • katieb
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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anonymous
  • anonymous
this will create a surplus of your goods, because at the equilibrium point the buyers are happy, when the price exceeds equilibrium buyers are forced to pay more for a good than they can purchase economically and will search for the next best thing or not buy at all, which will lead to a surplus of goods.

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