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When we say that a price in a competitive market is too high to clear the market we usually mean that (given upward-sloping supply curves)

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When we say that a price in a competitive market is too high to clear the market we usually mean that (given upward-sloping supply curves).

a. no producer can cover the costs of production at that price.

b. quantity supplied exceeds quantity demanded at that price.

c. producers are leaving the industry.

d. consumers are willing to buy all the units produced at that price.