Question #48229

If the price of a good is above the equilibrium price ?

A) there is a surplus and the price will rise

B) there is a shortage and the price will fall

C) there is a shortage and the price will rise

D) The quantity demanded is equal to the quantity supplied and the price remains unchanged

E) E. there is a surplus and the price will fall

Answer: If the price of a good is above the equilibrium price E. there is a surplus and the price will fall.

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