When there is underproduction in a market,

A) market price is too high.
B) there is excess quantity supplied.
C) the total of consumer and producer surplus is maximized.
D) there is a deadweight loss.

Consumer Surplus

The difference between the maximum price consumers are willing to pay and the actual price they pay.

Underproduction

A situation where the quantity produced of a good or service is less than the socially optimal level, often leading to market failure.

Market Price

The existing cost for acquiring or offloading an asset or service in the marketplace.