What happens to the price of a good or service ... - SS2 Economics Price And Quantity Determination Under Perfect Competition Question
What happens to the price of a good or service when there is a surplus in the market?
A
It increases
B
It decreases
C
It stays the same
D
It is impossible to predict
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Correct Option: B
(The price of a good or service decreases when there is a surplus in the market)
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