Question

if the equilibrium price of a good is greater than its market price explain all the charges that will be the take price in the market .use the diagram​

Answer 1

Answer:

When equilibrium price of a good is more than its market price, then there will be competition among the buyers. This is because when the equilibrium price of a good is above the market price then it implies that there is a situation of excess demand. ... Thus, due to this there will exist competition among the buyers.