Exhibit 3-6 Milk market
| Price per Quart | Quantity Demanded (Quarts per week) | Quantity Supplied (Quarts per week) |
| 0.70 | 20 | 180 |
| 0.60 | 60 | 140 |
| 0.50 | 100 | 100 |
| 0.40 | 140 | 60 |
| 0.30 | 180 | 20 |
-In Exhibit 3-6, which of the following is true about the milk market?
A) At price 0.60 there is an excess demand of milk.
B) At price 0.40 there is an excess supply of milk.
C) At price 0.70 there is an excess supply of milk.
D) At price 0.50 there is an excess demand of milk.
Correct Answer:
Verified
Q144: Exhibit 3-6 Milk market
