If the Quantity of Textbooks Supplied Is 10,000 Per Year

Multiple Choice

If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 8,000 per year, there is a _______ in the market and the price will _______ .

A) shortage; fall
B) surplus; fall
C) shortage; rise
D) surplus; rise
E) surplus; either rise or fall depending on whether supply increases to meet the surplus