At a Price of $1 Per Table,the Quantity Supplied of Tables

question 57

Multiple Choice

At a price of $1 per table,the quantity supplied of tables is 100 units,whereas the quantity demanded is 70 units.Given this information,which of the following statements is true?

• A) The equilibrium price is $1 per table.
• B) The market clearing price is $1 per table.
• C) At a price of $1 per table, there is a surplus in the market.
• D) At a price of $1 per table, there is a shortage in the market.

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Definitions:

Guilt

A feeling of responsibility or remorse for some offense, crime, wrong, whether real or imagined.

Shame

A painful emotion caused by a strong sense of guilt, embarrassment, unworthiness, or dishonor.

Withdrawal

The process or action of withdrawing, often referring to the physical and psychological reactions experienced when stopping or reducing the intake of a substance to which one has become addicted.

Child Abuse

Any action or lack of action by caregivers that results in harm or potential harm to a child, can be physical, emotional, sexual, or neglect.