34. What would we predict would happen in a market currently experiencing an excess supply? 1.Market price will fall, Qd will rise and Qs will fall. 2.Market price will increase, consumers will decrease their quantity demanded and sellers will increase their quantity supplied. 3.Market price will increase, demand will decrease and supply will increase. 4.Demand will fall until the market reaches equilibrium. 5.None of above 35. If the quantity demanded of a product exceeds the quantity supplied: 36. If the price of electric cars falls, economists would predict which of the following? 1.An increase in the demand for electric cars. 2.An increase in both the demand and the quantity demanded of electric cars. 3.A reduction in the supply of electric cars. 4.An increase in the quantity of electric cars demanded by consumers. 5.A reduction in the supply as well as an increase in the demand of electric cars.