(Figure: Market for TVs) The figure shows the global market for televisions. According to the figure, at a world price of $600: Supply and demand graph with millions of televisions on the horizontal axis and price on the vertical axis. There is a ten by ten grid on the graph, with quantity fifty marked at the fifth gridline and quantity one hundred at the tenth gridline. Price five hundred is marked at the fifth gridline and price one thousand marked at the tenth gridline. The world supply curve and the world demand curve intersect at quantity fifty and price five hundred. The demand curve has a y intercept at seven hundred and fifty. The supply curve has a y intercept at two hundred and fifty. Both are straight lines. a. the quantity demanded exceeds the quantity supplied, and there is downward pressure on the world price. b. the quantity demanded exceeds the quantity supplied, and there is upward pressure on the world price. c. the quantity supplied exceeds the quantity demanded, and there is downward pressure on the world price. d. the quantity supplied exceeds the quantity demanded, and there is upward pressure on the world price