The Table Below Displays Hypothetical Demand and Supply Schedules for the Market

question 160

Multiple Choice

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. TABLE 3-4 Refer to Table 3-4.Suppose the price of overnight parcel delivery in Year 1 is $22.Which of the following statements is correct? In Year 1,

• A)there is an excess demand of 15 million deliveries.
• B)there is an excess demand of 30 million deliveries.
• C)115 million parcels will be delivered.
• D)there is an excess supply of 15 million deliveries.
• E)there is an excess supply of 30 million deliveries.

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Definitions:

Business Opportunities

Prospects or situations that present potential for new business ventures or expansion.

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The focus on ensuring that products, services, or outputs meet a high standard of excellence.

Concrete Example

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Unnecessary Details

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