Multiple Choice
The table shown depicts the demand and supply schedules of a good. At a price of $6.00, quantity demanded:
A) exceeds quantity supplied, and a shortage (excess demand) exists.
B) is less than quantity supplied, and a shortage (excess demand) exists.
C) exceeds quantity supplied, and a surplus (excess supply) exists.
D) is less than quantity supplied, and a surplus (excess supply) exists.
Correct Answer:
Verified
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