Question

Use this image to answer the following question. When government sets a price for a good above equilibrium, there will be

economic growth.

economic loss.

a shortage.

a surplus.

Answer 1

When government sets a price for a good above equilibrium, there will be a surplus.

Answer 2

When government sets a price for a good above equilibrium, there will be a surplus. The other choices in the question are incorrect. The correct option among all the options that are given in the question is the fourth option or the last option. I hope that this is the answer that has helped you.