If the price of potatoes falls below the market equilibrium due to a sudden increase in supply, what is the most likely immediate effect on the market for potatoes?

When the price of potatoes falls below the market equilibrium, it means that there are more potatoes available than people want to buy at that lower price. This leads to a situation called excess supply, where sellers have more potatoes than buyers are willing to purchase. As a result, sellers may have to lower their prices even further to attract buyers, creating a downward pressure on the price. For example, if a farmer usually sells potatoes for $2 per pound but the price drops to $1. 50 due to an increase in supply, they may have trouble selling all their potatoes.