Figure: Supply, Demand, and Equilibrium
(Figure: Supply, Demand, and Equilibrium) Look at the figure Supply, Demand, and Equilibrium.In the figure, there will be an excess supply of the good at a price of P₁.

Question

Figure: Supply, Demand, and Equilibrium
  (Figure: Supply, Demand, and Equilibrium) Look at the figure Supply, Demand, and Equilibrium.In the figure, there will be an excess supply of the good at a price of P₁.

Quizplus · Accepted Answer

In the figure, there will be an excess demand of the good at a price of P₁.