Asked by Kianna Hendricks on Jul 20, 2024
Verified
When a surplus arises in the market for swimwear:
A) the price of swimwear will increase.
B) the production of swimwear will increase.
C) the supply of swimwear will increase.
D) the price of swimwear at retail outlets will fall.
E) the demand for swimwear will increase.
Swimwear Market
The industry segment that deals with the production and sale of clothing designed for swimming and related activities.
- Recognize circumstances resulting in market deficits and excesses.
- Master the understanding of market equilibrium and the mechanisms that pull it into balance.
Verified Answer
TF
Tyrese FranklinJul 27, 2024
Final Answer :
D
Explanation :
When a surplus arises, it means that the supply of swimwear exceeds the demand at the current price, leading to downward pressure on prices. Retailers will lower prices to clear the excess inventory.
Learning Objectives
- Recognize circumstances resulting in market deficits and excesses.
- Master the understanding of market equilibrium and the mechanisms that pull it into balance.