Suppose the market price of hamburger is $1.65 per pound. The equilibrium price of hamburger is $1.50 per pound. We would expect:

Name: Suppose the market price of hamburger is $1.65 per pound. The equilibrium price of hamburger is $1.50 per pound. We would expect:
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Question

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Since the market price of hamburger is higher than the equilibrium price, there will be a surplus of hamburger, which will put downward pressure on the market price. Therefore, we would expect a tendency for the market price to fall.

Suppose the Market Price of Hamburger Is $1