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

question 27

Multiple Choice

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. $$\begin{array} { | c | c | c | c | c | c | } \hline & \begin{array} { c } \text { Quantity } \\\text { Demanded } \\\text { (millions) }\end{array} && & \begin{array} { c } \text { Quantity } \\\text { Supplied } \\\text { (millions) }\end{array} & \\\hline \text { Price (\$) } & \text { Year 1 } & \text { Year 2 } & & \text { Year 1 } & \text { Year 2 } \\\hline & & & & & \\\hline 30 & 80 & 95 & & 140 & 125 \\\hline 26 & 90 & 105 & & 135 & 120 \\\hline 22 & 100 & 115 & & 130 & 115 \\\hline 18 & 110 & 125 & & 125 & 110 \\\hline 14 & 120 & 135 & & 120 & 105 \\\hline 10 & 130 & 145 & & 115 & 100 \\\hline\end{array}$$ TABLE 3- 3
-Refer to Table 3- 3.The equilibrium price and quantity for overnight parcel delivery in Year 1 is and million parcels.

• A)$30; 80
• B)$22; 130
• C)$14; 120
• D)$22; 115
• E)$10; 115