When the market price is higher than the equilibrium price,there is

A) a surplus.
B) a shortage.
C) both a shortage and a surplus.
D) neither a shortage nor a surplus.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market equilibrium.

Surplus

An excess amount of something, often referring to goods, services, or resources that exceed what is needed or used.