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Exhibit 3-8  Demand and Supply Data for Video Games

Question 16

Multiple Choice

Exhibit 3-8  Demand and Supply Data for Video Games

Price

Quantity Demanded

of Video Games

Quantity Supplied

of Video Games

$75

400

900

70

450

850

65

500

800

60

550

750

55

600

700

50

650

650

45

700

600

40

750

550

-Exhibit 3-8  Demand and Supply Data for Video Games
Exhibit 3-8  Demand and Supply Data for Video Games <table border= 1 cellspacing= 0 cellpadding= 0 style= border: currentcolor; > <tr style= height: 12.75pt; > <td valign= top style= background: #ffffca; height: 12.75pt; width: 76.5pt; padding: 0in 5.4pt; border-width: 1pt 1pt 1pt 1.5pt; border-style: solid; border-color: black; text-align: left; > <p style= text-align: center; >Price</td> <td valign= top style= background: #ffffca; height: 12.75pt; width: 1.8in; padding: 0in 5.4pt; border-width: 1pt 1pt 1pt 0px; border-style: solid solid solid none; border-color: black black black #000000; text-align: left; > <p style= text-align: center; >Quantity Demanded<p style= text-align: center; >of Video Games</td> <td valign= top style= background: #ffffca; height: 12.75pt; width: 1.8in; padding: 0in 5.4pt; border-width: 1pt 1.5pt 1pt 0px; border-style: solid solid solid none; border-color: black black black #000000; text-align: left; > <p style= text-align: center; >Quantity Supplied<p style= text-align: center; >of Video Games</td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 0px 1.5pt; border-style: none solid; border-color: #000000 black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >$75</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >400</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >900</span></td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 0px 1.5pt; border-style: none solid; border-color: #000000 black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >70</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >450</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >850</span></td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 0px 1.5pt; border-style: none solid; border-color: #000000 black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >65</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >500</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >800</span></td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 0px 1.5pt; border-style: none solid; border-color: #000000 black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >60</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >550</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >750</span></td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 0px 1.5pt; border-style: none solid; border-color: #000000 black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >55</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >600</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >700</span></td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 0px 1.5pt; border-style: none solid; border-color: #000000 black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >50</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >650</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >650</span></td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 0px 1.5pt; border-style: none solid; border-color: #000000 black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >45</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >700</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 0px 0px; border-style: none solid none none; border-color: #000000 black #000000 #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >600</span></td> </tr> <tr> <td valign= top style= width: 76.5pt; padding: 0in 5.4pt; border-width: 0px 1pt 1pt 1.5pt; border-style: none solid solid; border-color: #000000 black black; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >40</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1pt 1pt 0px; border-style: none solid solid none; border-color: #000000 black black #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >750</span></td> <td valign= top style= width: 1.8in; padding: 0in 5.4pt; border-width: 0px 1.5pt 1pt 0px; border-style: none solid solid none; border-color: #000000 black black #000000; text-align: left; > <p style= text-align: center; ><span style= font-size: 11pt; >550</span></td> </tr> </table> -Exhibit 3-8  Demand and Supply Data for Video Games In Exhibit 3-8, at any market price of video games above $50, a(n) ______________ would result, causing price to __________. A) excess demand; rise B) excess supply; rise C) excess demand; fall D) excess supply; fall
In Exhibit 3-8, at any market price of video games above $50, a(n) ______________ would result, causing price to __________.


A) excess demand; rise
B) excess supply; rise
C) excess demand; fall
D) excess supply; fall

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