Use the following to answer question:
-(Figure: The Blu-ray Disc Rental Market)Use Figure: The Blu-ray Disc Rental Market.At a rental price of $6,there will be:
A)equilibrium in the rental market for Blu-ray discs.
B)a decrease in demand.
C)an excess supply of 20 Blu-ray disc rentals.
D)an excess demand of 20 Blu-ray disc rentals.

Question

Use the following to answer question: 
-(Figure: The Blu-ray Disc Rental Market)Use Figure: The Blu-ray Disc Rental Market.At a rental price of $6,there will be:
A)equilibrium in the rental market for Blu-ray discs. 
B)a decrease in demand. 
C)an excess supply of 20 Blu-ray disc rentals. 
D)an excess demand of 20 Blu-ray disc rentals.

Quizplus · Accepted Answer

At a rental price of $6, the quantity supplied exceeds the quantity demanded, leading to an excess supply of 20 Blu-ray disc rentals. This is because, at this price, sellers are willing to supply more discs than consumers are willing to rent at that price point.

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