$\text { Table } 27.1 \mathrm{a}$ -Assume Table 27

Multiple Choice

$\text { Table } 27.1 \mathrm{a}$
$\begin{array}{ccc}\hline \text {Price}& \text { Quantity Demanded }& \text {Quantity Supplied per}\\& \text {per month}&\text { month}\\\hline 35,000 & 35,000 & 55,000 \\\hline \$ 30,000 & 40,000 & 50,000 \\\hline \$ 25,000 & 45,000 & 45,000 \\\hline \$ 20,000 & 50,000 & 40,000 \\\hline 15,000 & 55,000 & 35,000 \\\hline\end{array}$
-Assume Table 27.1a represents the supply and demand of Ford Explorers. If price is currently $30,000

A) the market is in equilibrium.
B) there is excess demand.
C) there is excess supply.
D) there is both excess demand and excess supply