Table: Supply and Demand Schedule In the Table, a Surplus Occurs at a Price ________

question 217

Multiple Choice

Table: Supply and Demand Schedule $$\begin{array} { c c c } \hline \text { Price per Unit } & \text { Quantity Demanded } & \text { Quantity Supplied } \\\hline \$ 17 & 80 & 97 \\\$ 15 & 88 & 88 \\\$ 13 & 96 & 79 \\\$ 11 & 104 & 71 \\\hline\end{array}$$ In the table, a surplus occurs at a price ________, and a shortage occurs at a price _________.

• A) of $17; below $15
• B) of $15; above $15
• C) above $15; of $15
• D) above $11; below $17

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Definitions:

Discounting

The process of determining the present value of a payment or a stream of payments that will be received in the future.

Capital Investments

Financial investments in assets such as property, industrial equipment, or technology, intended to improve a company's capacity or efficiency over the long term.

Future Value

The value of a current asset or amount of money at a specified date in the future, adjusted for interest or inflation.