Which one of the following statements is incorrect? A. If the market price is above the equilibrium price, a market surplus will develop. B. If the market price is below the equilibrium price, there will be an excess demand for the product. C. If the market price is below the equilibrium price, a market shortage will develop. D. If the market price is above the equilibrium price, there will be an excess supply of the product. E. If the market price is above the equilibrium price, the quantity demanded is greater than the quantity supplied.

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