Refer to the information provided in Table 3.2 below to answer the question(s) that follow.
Table 3.2
$$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Price per } \
\text { Cheeseburger }
\end{array} & \begin{array} { c }
\text { Quantity Demanded } \
\text { (Cheeseburgers per } \
\text { Month) }
\end{array} & \begin{array} { c }
\text { Quantity Supplied } \
\text { (Cheeseburgers per } \
\text { Month) }
\end{array} \
\hline \$ 5 & 1,500 & 500 \
\hline 6 & 1,200 & 700 \
\hline 7 & 900 & 900 \
\hline 8 & 600 & 1,100 \
\hline 9 & 300 & 1,300 \
\hline
\end{array}$$
-Refer to Table 3.2. In this market there will be an excess demand of 1,000 cheeseburgers at a price of

Question

Refer to the information provided in Table 3.2 below to answer the question(s) that follow.
Table 3.2
 $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Price per } \
\text { Cheeseburger }
\end{array} & \begin{array} { c } 
\text { Quantity Demanded } \
\text { (Cheeseburgers per } \
\text { Month) }
\end{array} & \begin{array} { c } 
\text { Quantity Supplied } \
\text { (Cheeseburgers per } \
\text { Month) }
\end{array} \
\hline \$ 5 & 1,500 & 500 \
\hline 6 & 1,200 & 700 \
\hline 7 & 900 & 900 \
\hline 8 & 600 & 1,100 \
\hline 9 & 300 & 1,300 \
\hline
\end{array}$$
-Refer to Table 3.2. In this market there will be an excess demand of 1,000 cheeseburgers at a price of

Quizplus · Accepted Answer

At a price of $5, the quantity demanded is 1,500 cheeseburgers per month, and the quantity supplied is 500 cheeseburgers per month, resulting in an excess demand of 1,000 cheeseburgers (1,500 demanded - 500 supplied = 1,000).

Refer to the Information Provided in Table 3 -Refer to Table 3