Supply 10.00 Price 3.00 Demand 1000 2000 3000 Quantity In the graph above, assume that the current market of price is $5 each. This prices is: At equilibrium price Not at equilibrium price, since there is an excess supply at a price of $5 Not at equilibrium price, since there is an excess demand at a price of $5 Not at equilibrium price, since the rate at which chairs are being supplied is greater than the rate at which they are being demanded