Which represents a shortage in the market Quantity supplied is greater than quantity demanded. Market price is less than equilibrium price. Quantity supplied equals quantity demanded. M?

A shortage in the market occurs when the quantity demanded exceeds the quantity supplied. This typically happens when the market price is set below the equilibrium price, leading to increased demand and insufficient supply to meet that demand. Therefore, the correct representation of a shortage is that the market price is less than the equilibrium price, resulting in a situation where quantity demanded is greater than quantity supplied.