Use the table below to answer the following questions.
Price dollars per unit)
Table 3.4.1
Quantity Demanded
Quantity Supplied units)
-Refer to Table 3.4.1.At a price of $3 a unit

Question

Use the table below to answer the following questions.
Price dollars per unit)
Table 3.4.1
Quantity Demanded
  Quantity Supplied units)
-Refer to Table 3.4.1.At a price of $3 a unit

Quizplus · Accepted Answer

At a price of $3 a unit, the quantity demanded is 420 units and the quantity supplied is only 240 units, creating a shortage of 180 units. This suggests that consumers are willing to buy more than what is available in the market, leading to a tendency for the price to rise to reach equilibrium. Therefore, the correct choice is C.

Use the Table Below to Answer the Following Questions