Exhibit 3-14 Supply and Demand Curves in Exhibit 3-14

Exhibit 3-14 Supply and demand curves In Exhibit 3-14, assume that the price of compact discs is $5 each. This price is:

A) an equilibrium price.
B) not an equilibrium price because there is an excess quantity supplied at a price of $5.
C) not an equilibrium price because there is an excess quantity demanded at a price of $5.
D) not an equilibrium price because the quantity supplied of compact discs is greater than the quantity demanded.