Table 4-10 The Following Table Shows the Number of Cases of Water

question 606

Multiple Choice

Table 4-10
The following table shows the number of cases of water each seller is willing to sell at the prices listed.
-Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market and the market quantity demanded is 500 cases when the price is $5.00, which of the following statements is correct?

• A)The market is in equilibrium at a price of $5.00.
• B)There is a surplus of 100 cases at a price of $5.00.
• C)There is a shortage of 100 cases at a price of $5.00.
• D)There is a shortage of 50 cases at a price of $5.00.

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Definitions:

Power-takeoff (PTO)

A device that transfers mechanical power from a power source, like an engine, to another piece of equipment to perform work.

Addendum

A term often used in mechanical engineering to describe the radial distance between the pitch circle and the outermost point of a gear tooth.

Dedendum

The portion of a gear tooth that lies below the pitch circle, extending down to the root of the tooth.

Pitch Line

An imaginary line in the middle of the gear tooth's profile, where the teeth of two gears effectively mesh without slipping.