If the price in the market for a commodity is above the market equilibrium price, the:

Question

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When the price of a commodity is above the equilibrium price, it means that the price is too high, leading to a situation where the quantity supplied (what producers are willing to sell) exceeds the quantity demanded (what consumers are willing to buy). This surplus prompts producers to lower prices to clear the excess inventory.

If the Price in the Market for a Commodity Is