If a surplus exists in a market, we know that the actual price is what?

We know that the actual price is above the price established by the market equilibrium. There is a market surplus when the quantity supplied is greater than the quantity demanded. A market surplus is a situation in which the producers are willing to sell a large number of goods or services at a given price, however, there are not enough consumers that are willing to buy those number goods at that price level. Therefore, sellers need to decrease the price until the point in which the quantity demanded equals the quantity supplied.