Use the following to answer questions :
-(Table: The Market for Chocolate-Covered Peanuts) Look at the table The Market for Chocolate-Covered Peanuts. If the price of chocolate-covered peanuts is $0.60, the price will:
A)not change.
B)fall to $0.30.
C)fall to $0.50.
D)rise to $0.70.

Question

Use the following to answer questions : 
-(Table: The Market for Chocolate-Covered Peanuts) Look at the table The Market for Chocolate-Covered Peanuts. If the price of chocolate-covered peanuts is $0.60, the price will:
A)not change. 
B)fall to $0.30. 
C)fall to $0.50. 
D)rise to $0.70.

Quizplus · Accepted Answer

At a price of $0.60, there is a surplus of 100 units. To eliminate the surplus, the price must fall.

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