Table 3.1 - Individual Demand and Supply Schedules

Table 3.1 - Individual demand and supply schedules
Suppose there are three buyers and three sellers in a market as shown in the following individual demand and supply schedules.
-In Table 3.1,if the price is $4,the market:

A) Is in equilibrium.
B) Experiences a shortage of 13 units.
C) Experiences a surplus of 15 units.
D) Experiences a surplus of 21 units.