With an equilibrium price of $10, a price of $10.99 would create an excess supply.

Name: With an equilibrium price of $10, a price of $10.99 would create an excess supply.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Since the equilibrium price is $10, any price above this would result in a surplus of supply, as producers would be willing to supply more than what consumers are willing to buy at that higher price. Therefore, a price of $10.99 would create an excess supply.

With an Equilibrium Price of $10, a Price of $10