When price is below equilibrium level, there will be

The correct answer is: A. Surplus commodity in the market.

When the price is below the equilibrium level, there will be a surplus of the commodity in the market. This is because at a lower price, consumers will demand more of the commodity than producers are willing to supply. This will lead to a surplus of the commodity, which will put downward pressure on the price.

The other options are incorrect because:

• Option B: A shortage of commodity in the market would occur if the price were above the equilibrium level.
• Option C: The supply curve would shift if there were a change in the costs of production.
• Option D: The demand curve would shift if there were a change in consumer preferences.

I hope this helps! Let me know if you have any other questions.