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 $0.80, there is a monthly:
A)surplus of 140 bags.
B)shortage of 140 bags.
C)surplus of 70 bags.
D)shortage of 70 bags.

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 $0.80, there is a monthly:
A)surplus of 140 bags. 
B)shortage of 140 bags. 
C)surplus of 70 bags. 
D)shortage of 70 bags.

Quizplus · Accepted Answer

At a price of $0.80, the quantity supplied exceeds the quantity demanded, resulting in a surplus of 140 bags.

Use the Following to Answer Questions