When the price is ________ the equilibrium price,we would expect there to be a ________,causing the market to put ________ pressure on the price until it went back to the equilibrium price.

Question

Quizplus · Accepted Answer

When the price is above the equilibrium price, there is more supply than demand, leading to a surplus. This surplus puts downward pressure on the price as sellers lower prices to clear their excess inventory, moving the price back towards equilibrium.

When the Price Is ________ the Equilibrium Price,we Would Expect