Exhibit 3-12 Supply and Demand Data in Exhibit 3-12

Exhibit 3-12 Supply and demand data In Exhibit 3-12, which of the following occurs at a price of $1.00?

A) A shortage puts a downward pressure on price.
B) Quantity demanded exceeds quantity supplied, putting upward pressure on price.
C) Quantity supplied exceeds quantity demanded, putting upward pressure on price.
D) The surplus would be so small that there would be only slight upward pressure on price.