Exhibit 3-1 -Consider the Market Described by the Schedule in Exhibit 3-1

Multiple Choice

Exhibit 3-1
-Consider the market described by the schedule in Exhibit 3-1. Which of the following is true?

A) The law of supply is violated.
B) There is no equilibrium.
C) At $5 per unit, people will purchase 100 units.
D) At $2 per unit, people will purchase 700 units.
E) The law of demand is violated.