-If column 1 represents the demand curve for a product and column 2 represents the supply curve,then at a price of $2.50,the market experiences _________________ equal to __________ units.
A) excess demand;70
B) excess demand;40
C) excess supply;0
D) excess supply;40
E) excess supply;30

Question

-If column 1 represents the demand curve for a product and column 2 represents the supply curve,then at a price of $2.50,the market experiences _________________ equal to __________ units.
A) excess demand;70 
B) excess demand;40 
C) excess supply;0 
D) excess supply;40 
E) excess supply;30

Quizplus · Accepted Answer

At a price of $2.50, the quantity demanded exceeds the quantity supplied by 40 units, resulting in excess demand.

-If Column 1 Represents the Demand Curve for a Product