Table 1 shows the quantities of wood supplied and demanded at various prices.

Table 1

Price (£ per tonne)	Quantity demanded (tonnes)	Quantity supplied (tonnes)
25	150	50
50	125	75
75	100	100
100	75	125
125	50	150

What is the excess supply at a price of £100 per tonne?

Excess supply, or a surplus, exists in a market when the price is above the equilibrium price. At this higher price, producers are willing to supply more of the good than consumers are willing to buy. To find the amount of the surplus, you subtract the quantity demanded from the quantity supplied at that specific price. From the table, at £100, this is 125 tonnes - 75 tonnes = 50 tonnes.