Use the following to answer questions :
-(Table: The Market for Chocolate-Covered Peanuts) Look at the table The Market for Chocolate-Covered Peanuts. A surplus of 210 bags of chocolate-covered peanuts exists if the price is _____ per bag.
A)$0.90
B)$0.80
C)$0.60
D)$0.40

Question

Use the following to answer questions : 
-(Table: The Market for Chocolate-Covered Peanuts) Look at the table The Market for Chocolate-Covered Peanuts. A surplus of 210 bags of chocolate-covered peanuts exists if the price is _____ per bag.
A)$0.90 
B)$0.80 
C)$0.60 
D)$0.40

Quizplus · Accepted Answer

A surplus occurs when the quantity supplied exceeds the quantity demanded. At $0.90 per bag, the quantity supplied is 300 bags and the quantity demanded is 90 bags, resulting in a surplus of 210 bags.

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