Question

If a store runs a sale on a product to clear out its stock, we can conclude that:____.

Answer 1

If a store runs a sale on a product to clear out its stock, we can conclude that there was a surplus of the product in the store.

When a product's supply and demand diverge, or when a small number of buyers are willing to pay more than the vast majority of buyers, there is a surplus. In theory, there should be neither a surplus nor a deficit of a good when it is sold for a fixed price that everyone is willing to pay.

Product surplus is the region that is above the supply level and below the equilibrium price.

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