-Refer to the above figure. Excess quantity supplied will exist when
A) the price is between $0 and $6.
B) the price equals $6.
C) the price equals $10.
D) quantity demanded equals 15.

Question

-Refer to the above figure. Excess quantity supplied will exist when
A) the price is between $0 and $6. 
B) the price equals $6. 
C) the price equals $10. 
D) quantity demanded equals 15.

Quizplus · Accepted Answer

Excess quantity supplied occurs when the price is above the equilibrium price, where the quantity supplied is greater than the quantity demanded. In this case, at a price of $10, the quantity supplied would exceed the quantity demanded, leading to excess supply.

-Refer to the Above Figure