The following sentences contain gaps which requires the insertion of one of the following words: A Expansion B Contraction C Shortage D Surplus If a product is priced above the equilibrium point in the market, it will lead to the producer having unsold units. This will lead to a reduction in selling price, along with 1 in the level of supply. The fall in selling price will lead to 2 in demand, until eventually equilibrium is reached. Required: (i) Select the word that correctly fills gap 1 above; i.e. select A, B,C or D. (ii) Select the word that correctly fills gap 2 above; i.e. select A, B,C or D.