Consider a Market Where the Demand Curve Is Downward Sloping

question 64

Multiple Choice

Consider a market where the demand curve is downward sloping and the supply curve is upward sloping (so they are neither vertical nor horizontal) .If the consumers' willingness to pay for the hundredth unit and the seller's willingness to accept for the 175th unit are both $5.00,then ________.

• A) the equilibrium price is $5.00
• B) the equilibrium quantity is 100 units
• C) there is an excess supply of 75 units at the price of $5.00
• D) there is an excess demand of 75 units at the price of $5.00

---

Definitions:

Alcohol

An organic compound characterized by one or more hydroxyl (–OH) groups attached to a carbon atom, used in a wide array of applications from solvents to beverages.

IR Spectroscopy

A technique used to identify molecular structures through the absorption of infrared light, which causes molecular vibrations.

Compounds

Substances formed from the chemical combination of two or more elements, characterized by specific molecular compositions and properties.

C=O Stretch

A vibrational mode in infrared spectroscopy, indicating the presence of a carbonyl group (\(C=O\)) in the molecule, characterized by a strong, distinctive absorption band.