Question

if there is excess demand in a market, which of the following is true? the quantity supplied is the equilibrium quantity. the price in a market is set below the equilibrium price. the quantity demanded is the equilibrium quantity. the price in a market is set above the equilibrium price.

Explanation:

Excess demand occurs when the quantity demanded of a good is greater than the quantity supplied. This happens when the market price is below the equilibrium price, as consumers want to buy more at the lower price, while producers are willing to supply less. At equilibrium price, quantity demanded equals quantity supplied, so no excess demand exists. A price above equilibrium would lead to excess supply, not demand.

Answer:

The price in a market is set below the equilibrium price.