​Exhibit 3-8 Demand and Supply Data for Video Games
​

question 367

Multiple Choice

​Exhibit 3-8 Demand and supply data for Video games
​ $$\begin{array} { | c | c | c | } \hline \text { Price } & \begin{array} { c } \text { Quantity Demanded } \\\text { of Video games }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { of Video games }\end{array} \\\hline \$ 75 & 400 & 900 \\70 & 450 & 850 \\65 & 500 & 800 \\60 & 550 & 750 \\55 & 600 & 700 \\50 & 650 & 650 \\45 & 700 & 600 \\40 & 750 & 550 \\\hline\end{array}$$ ​
-In Exhibit 3-8, if there is a surplus of video games of 200 units, the current price of video games must be:

• A) ?$60.
• B) ?$55.
• C) ?$50.
• D) ? $45.
• E) ?$40.

---

Definitions:

Assignments Valid

Transfers of rights, duties, or property that are legally recognized and enforceable.

Notice

Formal communication or warning, often required by law or agreement, to inform a party about an action or condition.

Intended Beneficiary

A third party for whom a contract is created to benefit, giving them certain rights to enforce the contract.

Contract

A legally enforceable agreement between two or more parties that creates mutual obligations enforceable by law.