The table shown depicts the demand and supply schedules of a good. At a price of $1.50:
A) the market is in equilibrium.
B) a surplus (excess supply) will exist.
C) more is being supplied than demanded.
D) a shortage (excess demand) will exist.

Question

The table shown depicts the demand and supply schedules of a good. At a price of $1.50:
A) the market is in equilibrium. 
B) a surplus (excess supply) will exist. 
C) more is being supplied than demanded. 
D) a shortage (excess demand) will exist.

Quizplus · Accepted Answer

The Answer of  The table shown depicts the demand and supply schedules of a good. At a price of $1.50:
A) the market is in equilibrium. 
B) a surplus (excess supply) will exist. 
C) more is being supplied than demanded. 
D) a shortage (excess demand) will exist.

The Table Shown Depicts the Demand and Supply Schedules of a Good