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(a) of Figure 4-9. At a price of $2.50 per cone,chi flat iron turbo 2, the quantity of the good supplied
(10 cones) exceeds the quantity demanded (4 cones). There is a surplus of the surplus
good: Suppliers are unable to sell all they want at the going price. When there is a a situation in which quantity
surplus in the ice-cream market,toughest p90x workout, for instance,Boston Bruins Jerseys, sellers of ice cream find their freez- supplied is greater than quantity
ers increasingly full of ice cream they would like to sell but cannot. They respond demanded
to the surplus by cutting their prices. Prices continue to fall until the market
reaches the equilibrium.
Suppose now that the market price is below the equilibrium price,christian dior shoes for women, as in panel
(b) of Figure 4-9. In this case, the price is $1.50 per cone,chi flat iron limited edition, and the quantity of the
good demanded exceeds the quantity supplied. There is a shortage of the good: shor tage