Table 14.1 -Refer to Table 14.1,which Shows the Market for Used Motorcycles

Multiple Choice

Table 14.1
-Refer to Table 14.1,which shows the market for used motorcycles in a small Midwestern town.Which of the following is true?

A) The market is in equilibrium.
B) We can expect the price of used motorcycles to fall.
C) We can expect the price of used motorcycles to rise.
D) Buyers' willingness to pay for a used motorcycle will remain unchanged.