Suppose That the Table Shown Shows the Demand and Supply

question 146

Multiple Choice

Suppose that the table shown shows the demand and supply schedules for pork bellies. There is a shortage of 15,000 pounds at a price of: $$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price } \\\text { (\$/lb.) }\end{array} & \text { Quantity demanded (lbs.) } & \text { Quantity Supplied (lbs.) } \\\hline \$ 0.10 & 30,000 & 5,000 \\\hline \$ 0.20 & 25,000 & 10,000 \\\hline \$ 0.50 & 20,000 & 20,000 \\\hline \$ 0.75 & 15,000 & 30,000 \\\hline \$ 0.95 & 5,000 & 40,000 \\\hline\end{array}$$

• A) $0.25.
• B) $0.50.
• C) $0.75.
• D) $0.95.

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