Solved

 Figure 310\text { Figure } 3-10 -In the Supply and Demand for Socks Schedules in Figure

Question 108

Multiple Choice

 Figure 310\text { Figure } 3-10 Price  Per Pair  Quantity  Demanded  Quantity  Supplied $2183$4144$6105$866$1028\begin{array} { | c c c | } \hline \begin{array} { c } \text { Price } \\\text { Per Pair }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\hline \$ 2 & 18 & 3 \\\$ 4 & 14 & 4 \\\$ 6 & 10 & 5 \\\$ 8 & 6 & 6 \\\$ 10 & 2 & 8 \\\hline\end{array}
-In the supply and demand for socks schedules in Figure 3-10,a price of $10 per pair results in


A) equilibrium
B) excess demand of 6 pairs
C) excess supply of 14 pairs
D) excess supply of 6 pairs
E) excess demand of 14 pairs

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions