Suppose That the Demand and Supply Curves in the Market

question 34

Multiple Choice

Suppose that the demand and supply curves in the market for carrots have the following functional form: Q_D = 250 - 4p and Q_S = 10 + p. If the prevailing price on the market is 50, then

• A)the market exhibits an excess demand of 240 units.
• B)the market exhibits an excess supply of 240 units.
• C)the market exhibits an excess demand of 10 units.
• D)the market is clearing.
• E)the market exhibits an excess supply of 10 units.

---

Definitions:

Deviance

Behaviors or actions that violate societal norms or values, leading to negative social reactions.

Official Statistics

Quantitative data collected and published by government agencies or other official organizations, often used for analysis and policy-making.

Suite Crime

A term not traditionally recognized in academic or professional fields, potentially referring to crimes committed within business or hotel suites. NO.

Street Crime

Criminal activities that occur in public places, often involving theft, vandalism, or violence.