Figure 3-6 -Refer to Figure 3-6.The Figure Above Represents the Market for the Market

Multiple Choice

Figure 3-6
-Refer to Figure 3-6.The figure above represents the market for coffee grinders.Compare the conditions in the market when the price is $15 and when the price is $21.Which of the following describes how the market differs at these prices?

A) At each price there is a shortage; the shortage is greater at $15 than at $21.
B) The difference between quantity supplied and quantity demanded is greater at $21 than at $15.
C) At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage.
D) At each price the demand for coffee grinders exceeds the supply of coffee grinders.