When the Price Is Below the Equilibrium Price, the Quantity

Multiple Choice

When the price is below the equilibrium price, the quantity demanded

A) is less than the equilibrium quantity and the quantity supplied is also less than the equilibrium quantity.
B) exceeds the equilibrium quantity but the quantity supplied is less than the equilibrium quantity.
C) exceeds the equilibrium quantity and the quantity supplied also exceeds the equilibrium quantity.
D) is less than the equilibrium quantity but the quantity supplied exceeds the equilibrium quantity.