Using the Data in the Table Above, If the Price

question 128

Multiple Choice

$\begin{array} { c c c } \hline \begin{array} { c } \text { Price } \\\text { (dollars } \\\text { per stapler) }\end{array} & \begin{array} { c } \text { Quantity demanded } \\\text { (thousands of staplers } \\\text { per week) }\end{array} & \begin{array} { c } \text { Quantity supplied } \\\text { (thousands of staplers } \\\text { per week) }\end{array} \\\hline 8 & 10 & 90 \\7 & 40 & 80 \\6 & 70 & 70 \\5 & 100 & 60 \\\hline\end{array}$
Using the data in the table above, if the price of a stapler is $8, then there is a of staplers and the quantity of staplers demanded the quantity of staplers supplied.

• A)surplus; is greater than
• B)neither a surplus nor a shortage; equals
• C)surplus; is less than
• D)shortage; is greater than
• E)shortage; is less than

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