(Table) Using the Data for the Market for Lattes in the Table

question 76

Multiple Choice

(Table) Using the data for the market for lattes in the table, at a price of $6: $$\begin{array} { l c c c c c c } \mathbf { P } & \mathbf { \$ 1 0 } & \mathbf { \$ 8 } & \mathbf { \$ 6 } & \mathbf { \$ 4 } & \mathbf { \$ 2 } & \mathbf { \$ 0 } \\\mathbf { Q } _ { d } & 3 & 7 & 10 & 14 & 20 & 30 \\\boldsymbol { Q } _ { s } & 20 & 15 & 10 & 7 & 3 & 0\end{array}$$

• A) there is a surplus of lattes.
• B) there is a shortage of lattes.
• C) consumers want to buy exactly seven lattes.
• D) there is no incentive for any market participants to change their behavior.

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