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(Figure: Market for Baseball Cards) the Graph Shows the Demand

Question 12

Multiple Choice

(Figure: Market for Baseball Cards) The graph shows the demand and supply curves for David Ortiz's rookie baseball card. If baseball card collectors, who are loss-averse, originally paid $6 for Ortiz's card, the current market for Ortiz's card will be characterized by: (Figure: Market for Baseball Cards)  The graph shows the demand and supply curves for David Ortiz's rookie baseball card. If baseball card collectors, who are loss-averse, originally paid $6 for Ortiz's card, the current market for Ortiz's card will be characterized by:   A)  3 million cards being traded. B)  an excess supply of 3 million cards. C)  an excess demand of 3 million cards. D)  5 million cards being traded.


A) 3 million cards being traded.
B) an excess supply of 3 million cards.
C) an excess demand of 3 million cards.
D) 5 million cards being traded.

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