at a given price of a commodity , there is excess demand . is this price an equilibrium price ? if not , how will the equilibrium price be reached?

Hi,

Answer provided by Sharun is correct. For detailed explanation, follow the below mentioned link.

https://www.meritnation.com/ask-answer/question/if-equilibrium-price-of-good-is-greater-than-its-market-p/economics/4400110

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  • -1
Its is not at equilibrium.Equilibrium will be reached as the price of the commodity increases.
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