-The graph illustrates the market for bottled water.When the price exceeds the equilibrium price,the quantity demanded is ________ the quantity supplied and the price of the good will ________.

Question

Quizplus · Accepted Answer

When the price exceeds the equilibrium price, the quantity demanded is less than the quantity supplied, leading to a surplus. This surplus puts downward pressure on the price, causing it to fall until equilibrium is restored.

-The Graph Illustrates the Market for Bottled Water