ECON: MACRO4 (with CourseMate, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
ECON: MACRO4 (with CourseMate, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423623
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 4, Problem 5.9PA
To determine

The reason behind acceptation of lower price under market surplus.

Concept Introduction:

Market surplus: When the supply is more in the market than the demand of the commodity, this excess supply is known as market surplus.

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