Figure 3.6

-Refer to Figure 3.6. The figure above represents the market for canvas tote bags. Compare the conditions in the market when the price is $50 and when the price is $35. Which of the following describes how the market differs at these prices?
A)At each price there is a surplus; the surplus is greater at $35 than at $50.
B)The difference between quantity supplied and quantity demanded is greater at $50 than at $35.
C)At each price there is a surplus; as supply exceeds demand.
D)At each price the supply of tote bags exceeds the demand for tote bags.

Question

Figure 3.6
 
-Refer to Figure 3.6. The figure above represents the market for canvas tote bags. Compare the conditions in the market when the price is $50 and when the price is $35. Which of the following describes how the market differs at these prices?
A)At each price there is a surplus; the surplus is greater at $35 than at $50. 
B)The difference between quantity supplied and quantity demanded is greater at $50 than at $35. 
C)At each price there is a surplus; as supply exceeds demand. 
D)At each price the supply of tote bags exceeds the demand for tote bags.

Quizplus · Accepted Answer

When the price is $50, the quantity supplied is likely higher than the quantity demanded, leading to a larger surplus compared to when the price is $35.

Figure 3.6 -Refer to Figure 3.6. the Figure Above Represents the Market