If Roses Are Currently Selling for $30 Per Dozen but the Equilibrium

Multiple Choice

If roses are currently selling for $30 per dozen but the equilibrium price of roses is $20 per dozen, then a:

A) shortage exists and the market price of roses is likely to increase.
B) shortage exists and the market price of roses is likely to decrease.
C) surplus exists and the market price of roses is likely to increase.
D) surplus exists and the market price of roses is likely to decrease.
E) decrease in the supply of roses in the market is likely to occur.