Question 3 (1 point)

Suppose the equilibrium price of good Y is $5 and the equilibrium quantity is 150 units. If the price of good Y is $12:

Question 3 options:

a)	the quantity demanded will be greater than 150 units.

b)	there will be an excess supply of good Y.

c)	the quantity supplied will be less than 150 units.

d)	there will be an excess demand for good Y.