Refer to Table 3 In Table 3

question 74

Multiple Choice

Refer to Table 3.1 to answer the following question Table 3.1 Individual Demand and Supply Schedules
$\begin{array}{l}\quad\quad\quad\quad\quad\quad\text { Quartity Dernarded by }\\\begin{array} { | r | r | r | r | c | } \hline { \text { Price } } & { \text { Alejandro } } & { \text { Ben } } & \text { Carl } & \text { Market } \\\hline \$ 8.00 & 8 & 4 & 2 & \\\hline 6.00 & 12 & 4 & 4 & \\\hline 4.00 & 20 & 4 & 6 & \\\hline 2.00 & 22 & 4 & 6 & \\\hline\end{array}\end{array}$ $\begin{array}{l}\quad\quad\quad\quad\quad\quad\text { Quartity Supplied by }\\\begin{array} { | r | r | r | r | c | } \hline { \text { Price } } & { \text { Avery } } & { \text { Brandon } } & \text { Cassandra} &\quad\quad\quad\quad \\\hline \$ 8.00 & 60 & 4 &6 & \\\hline \$6.00 & 42 & 4 & 4 & \\\hline \$4.00 & 24 & 4 & 2 & \\\hline\$ 2.00 &6 & 4 & 0 & \\\hline\end{array}\end{array}$ In Table 3.1,if the price is $8,the market will

• A)Be in equilibrium.
• B)Experience a surplus of 30 units.
• C)Experience a shortage of 22 units.
• D)Experience a surplus of 56 units.

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Definitions:

Economic Effects

The broad impact of financial activities and policies on a country's economy, including factors like growth, employment, and inflation.

Immigration

The process by which individuals move into a country of which they are not natives or where they do not possess citizenship, in order to settle or reside there.

Tax Revenues

The income that is received by a government from taxpayers within its jurisdiction, used to fund public services and obligations.

Government Spending

The total amount of public sector expenditure on goods and services, including infrastructure, healthcare, and education.