Suppose That the Equilibrium Price in the Market Is $10

Multiple Choice

Suppose that the equilibrium price in the market is $10. If the current market price is $7.50:

A) the equilibrium price will fall to $7.50.
B) competition among buyers will increase the current price.
C) the current price will fall below $7.50 as sellers compete for market share.
D) There is not enough information provided to answer the question.