Exhibit 3-1
-Consider the market described by the schedule in Exhibit 3-1. At a price of $5 per unit,
A)the quantity traded is 1,000 units.
B)there is a shortage.
C)the quantity sold is 1,800 units.
D)there is a surplus of 1,100 units.
E)the quantity purchased is 1,000 units.

Question

Exhibit 3-1 
-Consider the market described by the schedule in Exhibit 3-1. At a price of $5 per unit,
A)the quantity traded is 1,000 units. 
B)there is a shortage. 
C)the quantity sold is 1,800 units. 
D)there is a surplus of 1,100 units. 
E)the quantity purchased is 1,000 units.

Quizplus · Accepted Answer

The Answer of Exhibit 3-1 
-Consider the market described by the schedule in Exhibit 3-1. At a price of $5 per unit,
A)the quantity traded is 1,000 units. 
B)there is a shortage. 
C)the quantity sold is 1,800 units. 
D)there is a surplus of 1,100 units. 
E)the quantity purchased is 1,000 units.

Exhibit 3-1 -Consider the Market Described by the Schedule in Exhibit 3-1