When the price of a good is higher than the equilibrium price,

1.	When the price of a good is higher than the equilibrium price,
Answer» Answer: If the market price is above the equilibrium price, quantity SUPPLIED is GREATER than quantity DEMANDED, CREATING a surplus. Market price will fall. Example: if you are the producer, you have a LOT of excess inventory that cannot sell.

Answer»

Answer:

If the market price is above the equilibrium price, quantity SUPPLIED is GREATER than quantity DEMANDED, CREATING a surplus. Market price will fall. Example: if you are the producer, you have a LOT of excess inventory that cannot sell.

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When the price of a good is higher than the equilibrium price,

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