If the Quantity of Textbooks Supplied Is 10,000 Per Year

question 11

Multiple Choice

If the quantity of textbooks supplied is 10,000 per year and the quantity of textbooks demanded is 8,000 per year, there is a _______ in the market and the price will _______ .

• A)shortage; fall
• B)surplus; fall
• C)shortage; rise
• D)surplus; rise
• E)surplus; either rise or fall depending on whether supply increases to meet the surplus

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Definitions:

Loyal

The quality of being faithful or devoted to a person, country, group, or cause.

Stockholders

Individuals or entities that own shares of stock in a corporation, making them partial owners of the company.

Marginal Efficiency

The rate of return on an investment that is additional or marginal to the current level of investment.

Capital

Assets or resources, such as machinery, buildings, or money, that can be used to produce goods and services and generate wealth.