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:

Disease Prevention

Measures or activities aimed at reducing the risk or incidence of health problems and diseases.

Plan of Action

A detailed strategy outlining steps needed to achieve an objective or goal.

Diverse Factors

A variety of elements or conditions that contribute to the complexity or outcome of a situation.

Surrounding Society

The social environment and community that envelops an individual or group, influencing their behaviors and beliefs.