Suppose the Given Supply and Demand Tables Reflect the Supply

question 101

Multiple Choice

Suppose the given supply and demand tables reflect the supply and demand for milk per week. At a price of $1, there is a: $$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price } \\\text { (per gallm) }\end{array} & \begin{array} { c } \text { Quantity demanded (gallons per } \\\text { week) }\end{array} & \begin{array} { c } \text { Quantity Supplied (gallms per } \\\text { week) }\end{array} \\\hline \$ 1 & 2,000 & 1,000 \\\hline \$ 2 & 1,500 & 1,500 \\\hline \$ 3 & 1,000 & 2,000 \\\hline \$ 4 & 500 & 2,500 \\\hline\end{array}$$

• A)surplus of 500 gallons per week.
• B)surplus of 1,000 gallons per week.
• C)shortage of 2,500 gallons per week.
• D)shortage of 1,000 gallons per week.

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