Accurately portray events-surplus in corn market

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Reference no: EM131393435

Which of the following Statements accurately portray events when there is a "surplus" in the corn market?

(1) At the current price, there is downward pressure on the price of corn.

(2) The current price of corn is above the equilibrium price of corn.

(3) At the current price, the quanitty supplied of corn is greater than the quantity demanded of corn.

Reference no: EM131393435

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