Exhibit 5-1 -Refer to Exhibit 5-1, Which Shows Supply and Demand for Supply

Multiple Choice

Exhibit 5-1

-Refer to Exhibit 5-1, which shows supply and demand for freeway space at both 8 a.m. and 11 p.m. At P = $0, there is a ________ of freeway space at 8 a.m. and ________ at 11 p.m.

A) shortage; a surplus
B) surplus; a shortage
C) surplus; equilibrium
D) shortage; equilibrium