Table 4-3 the Demand Schedule Below Pertains to Sandwiches Demanded Per

Multiple Choice

Table 4-3. The demand schedule below pertains to sandwiches demanded per week.

-Refer to Table 4-3.Suppose Alfred,Belinda,and Charissa are the only demanders of sandwiches.Also suppose: • x = 2;
• the current price of a sandwich is $3.00;
• the market quantity supplied of sandwiches is 5;
• the slope of the supply curve is 1.
Then

A) there is currently a shortage of 5 sandwiches and the equilibrium price of a sandwich is between $3.00 and $5.00.
B) there is currently a shortage of 5 sandwiches and the equilibrium price of a sandwich is $5.00.
C) there is currently a shortage of 7 sandwiches and the equilibrium price of a sandwich is between $3.00 and $5.00.
D) there is currently a shortage of 7 sandwiches and the equilibrium price of a sandwich is higher than $5.00.