Refer to Table 3.2. In this market there will be an excess demand of 1,000 cheeseburgers at a price of

A) $5.
B) $6.
C) $8.
D) $9.

Question

Refer to Table 3.2. In this market there will be an excess demand of 1,000 cheeseburgers at a price ofA)  $5.B)  $6.C)  $8.D)  $9.

James Williams · Accepted Answer

Final Answer : A, Explanation :  At a price of $5, the quantity demanded is 1,500 cheeseburgers per month, and the quantity supplied is 500 cheeseburgers per month, resulting in an excess demand of 1,000 cheeseburgers (1,500 demanded - 500 supplied = 1,000).

Refer to Table 3.2. In this market there will be an excess demand of 1,000 cheeseburgers at a price of

A) $5.
B) $6.
C) $8.
D) $9.

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