The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. $$\begin{array}{l}
\begin{array} { | l | l | l | l | l | l | }
\hline & \begin{array} { l }
\text { Quantity } \
\text { Demanded } \
\text { (millions) }
\end{array} & && \begin{array} { l }
\text { Quantity } \
\text { Supplied } \
\text { (millions) }
\end{array} & \
\hline \text { Price (\$) } & \text { Year 1 } & \text { Year 2 } & & \text { Year 1 } & \text { Year 2 } \
\hline & & & & \
\hline 30 & 80 & 95 && 140 & 125 \
\hline 26 & 90 & 105 & &135 & 120 \
\hline 22 & 100 & 115 && 130 & 115 \
\hline 18 & 110 & 125 & &125 & 110 \
\hline 14 & 120 & 135 && 120 & 105 \
\hline 10 & 130 & 145 & &115 & 100 \
\hline
\end{array}\
\text { TABLE 3- } 3
\end{array}$$
-Refer to Table 3- 3. Suppose the price of overnight parcel delivery in Year 1 is $22. Which of the following statements is correct? In Year 1

Question

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. $$\begin{array}{l}
\begin{array} { | l | l | l | l | l | l | } 
\hline & \begin{array} { l } 
\text { Quantity } \
\text { Demanded } \
\text { (millions) }
\end{array} & && \begin{array} { l } 
\text { Quantity } \
\text { Supplied } \
\text { (millions) }
\end{array} & \
\hline \text { Price (\$) } & \text { Year 1 } & \text { Year 2 } & & \text { Year 1 } & \text { Year 2 } \
\hline & & & & \
\hline 30 & 80 & 95 && 140 & 125 \
\hline 26 & 90 & 105 & &135 & 120 \
\hline 22 & 100 & 115 && 130 & 115 \
\hline 18 & 110 & 125 & &125 & 110 \
\hline 14 & 120 & 135 && 120 & 105 \
\hline 10 & 130 & 145 & &115 & 100 \
\hline
\end{array}\
\text { TABLE 3- } 3
\end{array}$$
-Refer to Table 3- 3. Suppose the price of overnight parcel delivery in Year 1 is $22. Which of the following statements is correct? In Year 1

Quizplus · Accepted Answer

The Answer of The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. $$\begin{array}{l}
\begin{array} { | l | l | l | l | l | l | } 
\hline & \begin{array} { l } 
\text { Quantity } \
\text { Demanded } \
\text { (millions) }
\end{array} & && \begin{array} { l } 
\text { Quantity } \
\text { Supplied } \
\text { (millions) }
\end{array} & \
\hline \text { Price (\$) } & \text { Year 1 } & \text { Year 2 } & & \text { Year 1 } & \text { Year 2 } \
\hline & & & & \
\hline 30 & 80 & 95 && 140 & 125 \
\hline 26 & 90 & 105 & &135 & 120 \
\hline 22 & 100 & 115 && 130 & 115 \
\hline 18 & 110 & 125 & &125 & 110 \
\hline 14 & 120 & 135 && 120 & 105 \
\hline 10 & 130 & 145 & &115 & 100 \
\hline
\end{array}\
\text { TABLE 3- } 3
\end{array}$$
-Refer to Table 3- 3. Suppose the price of overnight parcel delivery in Year 1 is $22. Which of the following statements is correct? In Year 1

The Table Below Displays Hypothetical Demand and Supply Schedules for the Market