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Is it true that if market price is above the price, then quantity supplied is equal...

Is it true that if market price is above the price, then quantity supplied is equal to quantity demanded and the market is in quilibrium?

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No, it's not true that if market price is above the equilibrium price then quantity supplied is equal to quantity demanded and market is in equilibrium. Market will in equilibrium at a point of intersection of demand and supply i-e where quantity supplied and quantity demanded are equal. The price at this point of intersection , is called the equilibrium price and in this case where the market price is in excess of equilibrium price , quantity supplied will be more than quantity demanded leading to surplus of stock in market and as a result there will be fall in the market price.

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