Problem on surplus inventories

When the market price for soccer balls is above the intersection of supply and demand curves, then: (1) Shortages of soccer balls will be extensive. (2) Pressure will exist to raise the price of soccer balls. (3) Salaries paid people who make soccer balls are probable to increase. (4) The present price is the market-clearing price. (5) Sporting goods stores are probable to encompass surplus inventories of the soccer balls.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Unitarily price elastic of demand At a

At a price for $25, the demand for DVD games is around: (w) perfectly elastic. (x) perfectly inelastic. (y) unitarily elastic. (z) positively associated to supply.

Q : Functions of Profits and Losses The

The functions of profits into a market economy do NOT comprise: (1) stimulation for firms to be innovative and efficient. (2) compensating savers for delays of consumption. (3) signaling changing business conditions. (4) inducing mimi

Q : Maximize profit by monopolistic

Monopolistic competitors maximize profit through: (w) adjusting output at a given price. (x) adjusting price for a given output. (y) adjusting output and price. (z) cheating. Can someone explain/help me with best s

Q : Determine total revenue when prices fall

As the price falls by P4 to P3 to P2 to P1 beside such demand curve for Pixie's cheesy fried grits, then total revenue: (w) always rises. (x) always falls. (y) rises then falls. (z) falls then rises.

Q : Economic profit at profit-maximizing

HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. When HoloIMAGine produces its profit-maximizing output, this is demonstrated as: (w) operating in the long run. (x) realizing an economic profit equ

Q : Economic project Hello, Would you

Hello, Would you please find a project in managerial economic in the attachment. Please tell me in which price you will be solve it and when you complete it? NOTE: I attach tow files (one is the project and another as the sample for it) I choose Starbucks company for the project. A Special N

Q : What is Average Fixed Cost or AFC What

What is Average Fixed Cost. Also provide its formula?

Q : Wage Differentials problem Can someone

Can someone please help me in finding out the accurate answer from the following question. Significant influences on the union non-union wage differentials comprise the: (1) Proportion of the industry which is unionized and the frequency of strikes. (2) Frequency of s

Q : Get economic profit by economic rent

When you quickly attain economic profit because you build a store on rented land which turns out to be located conveniently for potential customers, in that case: (w) profit will increase when you buy the land after your lease expires. (x) rent will a

Q : Market power as a price maker The only

The only firm in this figure which has market power as a price maker is: (w) Firm A. (x) Firm B. (y) Firm C. (z) Firm D.

Discover Q & A

Leading Solution Library

Avail More Than 1431532 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1939699
Asked

3,689

Active Tutors

1431532

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment