-According to the above table, at a price of $16 per earbud, there is
A) an equilibrium.
B) a surplus of 3000 earbuds.
C) a shortage of 3000 earbuds.
D) a shortage of 1500 earbuds.

Name: -According to the above table, at a price of $16 per earbud, there is A) an equilibrium. B) a surplus of 3000 earbuds. C) a shortage of 3000 earbuds. D) a shortage of 1500 earbuds.
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Question

-According to the above table, at a price of $16 per earbud, there is
A) an equilibrium. 
B) a surplus of 3000 earbuds. 
C) a shortage of 3000 earbuds. 
D) a shortage of 1500 earbuds.

Quizplus · Accepted Answer

At a price of $16, the quantity supplied exceeds the quantity demanded by 3000 earbuds, resulting in a surplus.

-According to the Above Table, at a Price of $16