Use the following to answer questions:
Figure: Basic Supply and Demand
-(Figure: Basic Supply and Demand) In the diagram, which of the following statements is TRUE?
A) When the price is $3, the quantity demanded exceeds the quantity supplied by 60 units.
B) When the price is $2, the quantity demanded exceeds the quantity supplied by 40 units.
C) When the price is $4, the quantity demanded is less than the quantity supplied by 40 units.
D) When the price is $2, there is a tendency for the price to rise in the future.

Question

Use the following to answer questions:
Figure: Basic Supply and Demand 
-(Figure: Basic Supply and Demand) In the diagram, which of the following statements is TRUE?
A) When the price is $3, the quantity demanded exceeds the quantity supplied by 60 units. 
B) When the price is $2, the quantity demanded exceeds the quantity supplied by 40 units. 
C) When the price is $4, the quantity demanded is less than the quantity supplied by 40 units. 
D) When the price is $2, there is a tendency for the price to rise in the future.

Quizplus · Accepted Answer

The Answer of Use the following to answer questions:
Figure: Basic Supply and Demand 
-(Figure: Basic Supply and Demand) In the diagram, which of the following statements is TRUE?
A) When the price is $3, the quantity demanded exceeds the quantity supplied by 60 units. 
B) When the price is $2, the quantity demanded exceeds the quantity supplied by 40 units. 
C) When the price is $4, the quantity demanded is less than the quantity supplied by 40 units. 
D) When the price is $2, there is a tendency for the price to rise in the future.

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