Demand and Supply Schedules for Chocolate Bars
TABLE 5-1
-Refer to Table 5-1.Suppose the government imposed a price of $0.60 per chocolate bar.The result would be
A)excess demand of 450 chocolate bars per week.
B)excess supply of 450 chocolate bars per week.
C)excess supply of 1750 chocolate bars per week.
D)excess demand of 2200 chocolate bars per week.
E)stockpiling of unsold chocolate bars.

Question

Demand and Supply Schedules for Chocolate Bars
  TABLE 5-1
-Refer to Table 5-1.Suppose the government imposed a price of $0.60 per chocolate bar.The result would be
A)excess demand of 450 chocolate bars per week. 
B)excess supply of 450 chocolate bars per week. 
C)excess supply of 1750 chocolate bars per week. 
D)excess demand of 2200 chocolate bars per week. 
E)stockpiling of unsold chocolate bars.

Quizplus · Accepted Answer

At a price of $0.60, the quantity demanded exceeds the quantity supplied, resulting in an excess demand of 450 chocolate bars per week.