783EconomicsMedium
If the price of a good is above the equilibrium price?
AThe quantity demanded is equal to the quantity supplied and the price remains unchanged
Bthere is a surplus and the price will fall
Cthere is a surplus and the price will rise
Dthere is a shortage and the price will fall
Ethere is a shortage and the price will rise
Correct answer
B. there is a surplus and the price will fall
Explanation
The correct answer is there is a surplus and the price will fall.