If market price is above equilibrium price,

Name: If market price is above equilibrium price,
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If the market price is above equilibrium price, it means that the quantity supplied is greater than the quantity demanded. This leads to a surplus in the market, where producers are willing to sell more at the higher price, but consumers are not willing to buy as much at the higher price. Therefore, choice B is the correct answer.

If Market Price Is Above Equilibrium Price