The equilibrium price of orange is 50k. If for some reason the price rises to…

The equilibrium price of orange is 50k. If for some reason the price rises to 60k, there will be
  • A.
    excess demand
  • B.
    excess supply
  • C.
    shortage in the market
  • D.
    many buyers in the market
  • E.
    no buyer in the market
Correct Answer: Option B
Explanation
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