Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $50: $$\begin{array} { | r | r | r | }
\hline \text { Price Per Unit } & \text { Columu A Units Per Year } & \text { Colum B Units Per Year } \
\hline \$ 20 & 100 & 40 \
\hline \$ 30 & 95 & 50 \
\hline \$ 40 & 80 & 60 \
\hline \$ 50 & 65 & 70 \
\hline \$ 60 & 50 & \mathbf { 8 0 } \
\hline
\end{array}$$
A)the market will be in equilibrium.
B)there will be an excess demand of 5 units.
C)there will be an excess supply of 70 units.
D)there will be an excess supply of 5 units.

Question

Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $50: $$\begin{array} { | r | r | r | } 
\hline \text { Price Per Unit } & \text { Columu A Units Per Year } & \text { Colum B Units Per Year } \
\hline \$ 20 & 100 & 40 \
\hline \$ 30 & 95 & 50 \
\hline \$ 40 & 80 & 60 \
\hline \$ 50 & 65 & 70 \
\hline \$ 60 & 50 & \mathbf { 8 0 } \
\hline
\end{array}$$  
A)the market will be in equilibrium.
B)there will be an excess demand of 5 units.
C)there will be an excess supply of 70 units.
D)there will be an excess supply of 5 units.

Quizplus · Accepted Answer

At a price of $50, Column A (demand) is 65 units, and Column B (supply) is 70 units, resulting in an excess supply of 5 units.

Refer to the Given Table A)the Market Will Be in Equilibrium