--%>

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.

   Related Questions in Microeconomics

  • Q : Determine price and quantity by

    The price elasticity of demand at a specified price and quantity is demonstrated by the ratio of the relative as: (w) change within quantity demanded over a specified proportional price change. (x) reciprocal of the price elasticity o

  • Q : Demand for a poorer good Household’s

    Household’s demand for a poorer good tends to fall if: (1) Supplies of complementary goods increase. (2) Prices of alternate goods increase. (3) Family income rises. (4) Its own price drops/falls. Can someone

  • Q : Define Marginal rate of Substitution or

    Marginal rate of Substitution (MRS): It is the rate at which a consumer is prepared to give up one good to get the other good.

  • Q : Economic Capital verses Financial

    Your construction company currently bought a bulldozer on credit. By the perspective of your lender, and your firm’s IOU for this bulldozer is an illustration of: (1) a liability. (2) economic capital. (3) total variable cost. (4) capitalization. (5) financial c

  • Q : Tax cutting affect the economy How does

    How does tax cuts affect the economy?

  • Q : Preferance of food after income rises

    Assume that, for you, lobster is an ordinary good and peanut butter is a poorer good. When your income increases, you will probably consume: (1) Greater of both goods. (2) Less of both goods. (3) Greater peanut butter and less lobster. (4) Greater lobster and less pea

  • Q : Substitution of goods for buyers Can

    Can someone help me in finding out the right answer from the given options. The market demand curves slope downward as: (i) Supply curves are positively sloped. (ii) Each and every buyer has similar preferences and incomes. (iii) Buyers replace towards goods as their

  • Q : Decreasing cost industries When average

    When average production cost for Plastibristle Inc. falls like market demand increases and more firms go into the industry, Plastibristle is within:  (1) an economically efficient industry. (2) a purely competiti

  • Q : Bilateral Monopoly problem The

    The bilateral monopoly is in operation when: (i) Firm is the only employer of the certain labor force and a union is just the supplier of the labor for that organization. (ii) The firm is the mere producer of the two complementary goods. (iii) The monopolist sells a g

  • Q : Short Run-At least one resource is fixed

    Can someone please help me in finding out the accurate answer from the following question. In short run: (1) The quantities of all firm’s resources are variable. (2) Managers are less proficient than they are in long run. (3) At least one of the resources is fix