The figure below shows the supply and demand curves for jeans in Smallville. At a price of $60 per pair, there will be an excess ______ of ______ pairs of jeans per day.
A)supply; 24
B)supply; 16
C)demand; 16
D)demand; 8

Question

The figure below shows the supply and demand curves for jeans in Smallville.  At a price of $60 per pair, there will be an excess ______ of ______ pairs of jeans per day.
A)supply; 24 
B)supply; 16 
C)demand; 16 
D)demand; 8

Quizplus · Accepted Answer

At a price of $60 per pair, the quantity supplied is 44 and the quantity demanded is 28. So there is an excess supply of 16 pairs of jeans per day. Therefore, the correct choice is B.

The Figure Below Shows the Supply and Demand Curves for Jeans