The Graph Shown Depicts the Market for a Good

Multiple Choice

The graph shown depicts the market for a good. What state is this market in if the price of the good is $15?

A) There is a shortage (excess demand) , signaling that sellers should raise their price.
B) There is a shortage (excess demand) , signaling that buyers should leave the market.
C) There is a surplus (excess supply) , signaling that sellers should drop their price.
D) There is a surplus (excess supply) , signaling that buyers should bid up the price.