The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. $$\begin{array}{l}
\begin{array} { | l | l | l | l | l | l | }
\hline & \begin{array} { l }
\text { Quantity } \
\text { Demanded } \
\text { (millions) }
\end{array} & && \begin{array} { l }
\text { Quantity } \
\text { Supplied } \
\text { (millions) }
\end{array} & \
\hline \text { Price (\$) } & \text { Year 1 } & \text { Year 2 } & & \text { Year 1 } & \text { Year 2 } \
\hline & & & & \
\hline 30 & 80 & 95 && 140 & 125 \
\hline 26 & 90 & 105 & &135 & 120 \
\hline 22 & 100 & 115 && 130 & 115 \
\hline 18 & 110 & 125 & &125 & 110 \
\hline 14 & 120 & 135 && 120 & 105 \
\hline 10 & 130 & 145 & &115 & 100 \
\hline
\end{array}\
\text { TABLE 3- } 3
\end{array}$$
-Refer to Table 3- 3. If the price of overnight parcel delivery in Year 2 is $10, how many parcels will actually be delivered?

Question

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. $$\begin{array}{l}
\begin{array} { | l | l | l | l | l | l | } 
\hline & \begin{array} { l } 
\text { Quantity } \
\text { Demanded } \
\text { (millions) }
\end{array} & && \begin{array} { l } 
\text { Quantity } \
\text { Supplied } \
\text { (millions) }
\end{array} & \
\hline \text { Price (\$) } & \text { Year 1 } & \text { Year 2 } & & \text { Year 1 } & \text { Year 2 } \
\hline & & & & \
\hline 30 & 80 & 95 && 140 & 125 \
\hline 26 & 90 & 105 & &135 & 120 \
\hline 22 & 100 & 115 && 130 & 115 \
\hline 18 & 110 & 125 & &125 & 110 \
\hline 14 & 120 & 135 && 120 & 105 \
\hline 10 & 130 & 145 & &115 & 100 \
\hline
\end{array}\
\text { TABLE 3- } 3
\end{array}$$
-Refer to Table 3- 3. If the price of overnight parcel delivery in Year 2 is $10, how many parcels will actually be delivered?

Quizplus · Accepted Answer

At a price of $10 in Year 2, the quantity supplied is 100 million parcels, which is the amount that will actually be delivered as supply determines the actual quantity delivered when demand exceeds supply.

The Table Below Displays Hypothetical Demand and Supply Schedules for the Market