At a price of $1 per table, the quantity supplied of tables is 100 uni

At a price of $1 per table, the quantity supplied of tables is 100 units whereas the quantity demanded is 70 units. Given this information, which of the following statements is true?

A) $1 per table is the market clearing price.
B) At $1 per table, there is a surplus in the market.
C) At $1 per table, there is a shortage in the market.
D) $1 per table is the equilibrium price.

ANSWER

B