Suppose the market price is currently above the equilibrium price. We would expect to find:

Name: Suppose the market price is currently above the equilibrium price. We would expect to find:
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Question

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When the market price is above the equilibrium price, it means that the price is too high, leading to a situation where the quantity supplied exceeds the quantity demanded. This creates excess supply in the market, as producers are unable to sell all of their goods at the higher price.

Suppose the Market Price Is Currently Above the Equilibrium Price