Refer to Figure 4-7. At what price would there be an excess demand of 600 units of the good?

A) $10
B) $0
C) $5
D) $15

Question

Refer to Figure 4-7. At what price would there be an excess demand of 600 units of the good?A) $10B) $0C) $5D) $15

Laken Badley · Accepted Answer

Final Answer : C, Explanation :  At a price of $5, the quantity demanded is 1600 units while the quantity supplied is 1000 units, resulting in an excess demand of 600 units.

Refer to Figure 4-7. At what price would there be an excess demand of 600 units of the good?

A) $10
B) $0
C) $5
D) $15

Definitions

Learning Objectives

Learning Objectives

Related questions