Can any answer this quick question?

Question

Suppose that the price of rewritable cds was aboce equilibrium price. You would expect to see:

A) a shortage on the market that caused price to increase further

B) a leftward shift of the demand curve because of the high price

C) sellers begin to lower their price because of the surplus of rewritable cds

Answer 1

Since the price for rewritable CDs is above the equilibrium price (that is, it is too high), some sellers won't be able to find a buyer unless they lower their price.

The correct answer is C).

Answer 2

a

Answer 3

C