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(Figure: Supply and Demand for Shoes) If the Price of Shoes

Question 105

Multiple Choice

(Figure: Supply and Demand for Shoes) If the price of shoes is $40, then the market (Figure: Supply and Demand for Shoes) If the price of shoes is $40, then the market A) is in equilibrium. B) experiences a shortage of shoes. C) experiences a surplus of shoes. D) There is not enough information to answer this question.


A) is in equilibrium.
B) experiences a shortage of shoes.
C) experiences a surplus of shoes.
D) There is not enough information to answer this question.

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