Figure 3.6 -Refer to Figure 3.6. the Figure Above Represents the Market

Multiple Choice

Figure 3.6

-Refer to Figure 3.6. The figure above represents the market for canvas tote bags. Compare the conditions in the market when the price is $50 and when the price is $35. Which of the following describes how the market differs at these prices?

A) At each price there is a surplus; the surplus is greater at $35 than at $50.
B) The difference between quantity supplied and quantity demanded is greater at $50 than at $35.
C) At each price there is a surplus; as supply exceeds demand.
D) At each price the supply of tote bags exceeds the demand for tote bags.