Exhibit 3-8 Demand and Supply Data for Radios

Exhibit 3-8 Demand and supply data for radios

-Exhibit 3-8 presents supply and demand data for the radio market.If the price of radios was currently $70,there would be an ____ of ____ radios in this market.

A) Excess demand; 450
B) Excess demand; 500
C) Excess supply; 400
D) Excess supply; 850
E) Excess demand; 400