In the following graph, QS and QD represent the supply and demand curves respectively. Refer to the graph to answer the question.
If the market price is £10:
A) the consumers' willingness to pay is lower than the sellers' willingness to supply.
B) there is a shortage in the market.
C) sellers will discount the price until the excess supply is sold.
D) the market is in equilibrium.
Correct Answer:
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