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When the actual price in some market is above the equilibrium price, the resulting market condition is known as

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When the actual price in some market is above the equilibrium price, the resulting market condition is known as Excess Supply.

What is an Excess Supply?

An excess supply is a condition where there is a surplus of goods in the market. In this condition, the price would have tiled above the equilibrium curve.

Excess supply can also be known as surplus. When the actual price of a good is above the equilibrium price, there tends to be a condition called excess supply.

Learn more about Excess Supply here:

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