If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 8,000 per year,there is a ________ in the market and the price will ________.
A)shortage;rise
B)shortage;fall
C)surplus;rise
D)surplus;fall
E)surplus;either rise or fall depending on whether supply increases to meet the surplus

Question

Quizplus · Accepted Answer

When the quantity supplied exceeds the quantity demanded, there is a surplus in the market, leading to a potential decrease in price as sellers attempt to clear excess inventory.

If the Quantity of Textbooks Supplied Is 10,000 Per Year