If price is above the equilibrium, then quantity supplied will be greater than quantity demanded, putting downward pressure on price.

Question

Quizplus · Accepted Answer

When the price is above the equilibrium, it means that the quantity of goods supplied exceeds the quantity demanded. This surplus of goods prompts sellers to lower their prices to increase sales, thereby putting downward pressure on the price until it reaches the equilibrium point where supply equals demand.

If Price Is Above the Equilibrium, Then Quantity Supplied Will