Which of the following accurately describes a surplus?
Which of the following statements accurately describes a surplus?
a. Consumer demand for a certain car is lower than the number of cars produced.
b. The production costs for a certain car are lower than the sale price of that car.
c. A reduction in the cost of steel allows a car company to lower the sale price of its cars.
d. A car company sets a price that is too high for a car and subsequently has to reduce the price.
3 Answers
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