Table 4-9 The Demand Schedule Below Pertains to Sandwiches Demanded Per Week

question 368

Multiple Choice

Table 4-9
The demand schedule below pertains to sandwiches demanded per week.

-Refer to Table 4-9.Suppose Harry,Darby,and Jake are the only demanders of sandwiches.Also suppose the following: • x = 2.
• The current price of a sandwich is $3.00.
• The market quantity supplied of sandwiches is 4.
• The slope of the supply curve is 2.
Then there is currently a

• A) shortage of 6 sandwiches, and the equilibrium price of a sandwich is less than $3.00.
• B) shortage of 6 sandwiches, and the equilibrium price of a sandwich is $5.00.
• C) surplus of 6 sandwiches, and the equilibrium price of a sandwich is less than $3.00.
• D) surplus of 6 sandwiches, and the equilibrium price of a sandwich is $5.00.

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Definitions:

Forbidden

Prohibited or not allowed by law, rules, or customs.

Reactance

A psychological response where individuals act in opposition to external pressures or constraints to maintain their freedom of choice.

Loss of Freedom

The experience of having one's autonomy, choices, or rights restricted or removed, often leading to feelings of constraint or oppression.

Distressed

A state of emotional strain typically resulting from difficult or adverse situations.