Question

a surplus of candy means that: o at the current price, the quantity demanded exceeds the quantity supplied. o at the current price, the quantity demanded is less than the quantity supplied. o the current price of candy is less than the equilibrium price. o the current price of candy is greater than the equilibrium price. o both options b. and d. are correct.

Explanation:

A surplus occurs when the quantity supplied is greater than the quantity demanded. This happens when the current price is above the equilibrium price. When the price is above equilibrium, producers are willing to supply more, but consumers demand less.

Answer:

At the current price, the quantity supplied exceeds the quantity demanded and the current price of candy is greater than the equilibrium price.