Suppose That the Demand and Supply Curves for Green Peas

question 33

Multiple Choice

Suppose that the demand and supply curves for green peas are given by Q^D = 10 - 8P and Q^S = 2P, where P is price per pound and Q is measured in thousands of pounds. If the price per pound of peas is $0.50, the market _____, so the price will _____.

• A) has excess demand of 3,000 pounds; rise
• B) has excess supply of 1,000 pounds; fall
• C) is in equilibrium; remain unchanged
• D) has excess demand of 5,000 pounds; rise

---

Definitions:

ATP

Adenosine triphosphate, a molecule that carries energy within cells, essential for various cellular functions.

Mitochondrion

An organelle found in large numbers in most cells, in which the biochemical processes of respiration and energy production occur. It has its own DNA.

Phagocytic Cell

A type of immune cell capable of engulfing and absorbing bacteria, other foreign bodies, and sometimes dead cells.

Macrophage

A macrophage is a type of white blood cell part of the immune system, capable of phagocytosis, engulfing and digesting cellular debris, foreign substances, microbes, and cancer cells.