-Refer to the Table Above

question 58

Multiple Choice

$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price Per } \\\text { Pair }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\hline \text { R20 } & 18 & 3 \\\hline \text { R40 } & 14 & 4 \\\hline \text { R60 } & 10 & 5 \\\hline \text { R80 } & 6 & 6 \\\hline \text { R100 } & 2 & 8 \\\hline\end{array}$
-Refer to the table above. In the supply and demand schedules for socks shown here, if a price floor of R60 is imposed by the government, there will be a

• A) surplus of socks equal to 8 pairs.
• B) shortage of socks equal to 5 pairs.
• C) surplus of socks equal to 6 pairs.
• D) market clearing quantity of 6 pairs of socks exchanged.

---

Definitions:

Items

Objects, products, or goods that are listed or mentioned, typically in the context of shopping, inventory, or collections.

Gauge Copper

A measurement of the thickness or diameter of copper wire, indicating its current-carrying capacity.

Electrical Contractor

A business or individual specializing in designing, installing, and maintaining electrical systems in buildings.

Cash Receipts

The collection of money, including coins, currency, checks, and electronic transfers, received by a business.