-Refer to the above figure. At a price of $2, excess quantity demanded equals
A) 0.
B) 3.
C) 12.
D) 15.

Name: -Refer to the above figure. At a price of $2, excess quantity demanded equals A) 0. B) 3. C) 12. D) 15.
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Question

-Refer to the above figure. At a price of $2, excess quantity demanded equals
A) 0. 
B) 3. 
C) 12. 
D) 15.

Quizplus · Accepted Answer

At a price of $2, the quantity demanded is 15 units (from the demand curve) and the quantity supplied is 3 units (from the supply curve), resulting in an excess demand of 12 units (15 - 3 = 12).

-Refer to the Above Figure