Solved

 Demand and Supply Schedules for Chocolate Bars \text { Demand and Supply Schedules for Chocolate Bars }

Question 51

Multiple Choice

 Demand and Supply Schedules for Chocolate Bars \text { Demand and Supply Schedules for Chocolate Bars }
 Price ($)  Quantity Demanded  (thousandsperweek)   Quantity Supplied  (thousands per week)  2.00150021001.80160020501.60170020001.40180019501.20190019001.00200018500.80210018000.60220017500.4023001700\begin{array}{|c|c|c|}\hline \begin{array}{c}\text { Price } \\(\$) \end{array} & \begin{array}{c}\text { Quantity Demanded } \\\text { (thousandsperweek) }\end{array} & \begin{array}{c}\text { Quantity Supplied } \\\text { (thousands per week) }\end{array} \\\hline 2.00 & 1500 & 2100 \\\hline 1.80 & 1600 & 2050 \\\hline 1.60 & 1700 & 2000 \\\hline 1.40 & 1800 & 1950 \\\hline 1.20 & 1900 & 1900 \\\hline 1.00 & 2000 & 1850 \\\hline 0.80 & 2100 & 1800 \\\hline 0.60 & 2200 & 1750 \\\hline 0.40 & 2300 & 1700 \\\hline\end{array}
 TABLE 5-1 \text { 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 supply of 1750 chocolate bars per week.
B) stockpiling of unsold chocolate bars.
C) excess supply of 450 chocolate bars per week.
D) excess demand of 2200 chocolate bars per week.
E) excess demand of 450 chocolate bars per week.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents