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nataly862011 [7]
3 years ago
14

If the current price of a product is above the market equilibrium​ price, there is​ ________ of this product.

Business
1 answer:
lana [24]3 years ago
5 0

Answer:

Excess supply

Explanation:

Equilibrium price is the price where the demand curve equals the supply curve.

When price is above the equilibrium price, quantity supplied increases.

According to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

If price is below the equilibrium price, there would be excess demand.

I hope my answer helps you

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