--%>

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 : Words of Joseph A. Schumpeter about

    According to Joseph A. Schumpeter as: (1) refined and popularized the idea that profits derive by innovation. (2) perceived profits as rewards for bearing uncertainty. (3) believed which monopoly firms are so inefficient which none fully realize their

  • Q : Capital resources Select which of the

    Select which of the following lists includes only capital resources (and therefore no labor or land resources)? 1) an ice arena; a professional hockey player; hockey uniforms. 2) the owner of a new startup firm; a chemistry lab; a researcher. 3) a hydroelectric dam; w

  • Q : Procedure of substituting complicated

    The procedure of substituting complicated machinery for human labor is termed as: (1) automation. (2) bionic engineering. (3) scientific management. (4) robotics. (5) industrial sabotage. How can I solve my

  • Q : Employed Currency in 1700s In 1700s

    In 1700s what currency was employed?

  • Q : Characteristics of oligopoly Features

    Features of oligopoly: 1) Few sellers in the market 2) Firms sell homogenous or differentiated products. 3) Price Rigidity. 4) Behavior of each firms dependence on the other firms.

  • Q : Monopolistically competitive firm at

    Unlike a firm within purely competitive long run equilibrium, within the long run, there a monopolistically competitive firm which does not price discriminate: (w) produces where P = MC. (y) does not price at the bott

  • Q : Define normal goods Normal goods:

    Normal goods: Normal goods are such goods whose demand increases with the increase in income of consumer.

  • Q : Price increment for higher total revenue

    A price increase for Pixie’s cheesy fried grits by P1 to P2 would yield higher total as: (w) revenue because demand is price elastic. (x) supply since demand is unitarily elastic. (y) revenue since demand is price inelastic. (z) use of the

  • Q : Profit maximization for firm in pure

    Profit maximization for a firm within pure competition arises while: (w) MC = P = MR. (x) MC > MR. (y) AC = P. (z) MC = AC. Can anybody suggest me the proper explanation for given problem regarding Econo

  • Q : Attract aggressive competition by high

    There is substantial evidence which: (w) size alone protects modern corporations from competitive pressures. (x) big unions manipulate government more than big business does. (y) the marketplace serves business firms better than consumers. (z) high pr