The table given below reports the quantity of bread loaves demanded and supplied at different per unit prices.
Table 3.3
-Refer to Table 3.3.Which of the following would occur in the market for bread if the market price exceeded the equilibrium price by $1?
A) The quantity of bread demanded in the market would increase
B) The bread market would face a surplus of 36 loaves of bread
C) The supply of bread in the market would increase
D) The bread market would face a shortage of 72 loaves of bread
E) The demand for bread in the market would decrease
Correct Answer:
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