If the price level is:
A) Above equilibrium,this results in excess supply.
B) Above equilibrium,this results in a shortage.
C) Below equilibrium,this results in an increase in the quantity of output offered for sale.
D) Below equilibrium,this results in a surplus.

Question

Quizplus · Accepted Answer

When the price level is above equilibrium, it results in excess supply because producers are willing to supply more than consumers are willing to buy at that price.

If the Price Level Is