Table 4-5 -Refer to Table 4-5. If the Four Suppliers Listed Are

question 149

Multiple Choice

Table 4-5

-Refer to Table 4-5. If the four suppliers listed are the only suppliers in this market and the market quantity demanded is 600 cases when the price is $4.00, which of the following statements is correct?

• A)The market is in equilibrium at a price of $4.00.
• B)There is a shortage of 200 cases at a price of $4.00.
• C)There is a surplus of 200 cases at a price of $4.00.
• D)There is a shortage of 230 cases at a price of $4.00.