Figure 3.6 -Refer to Figure 3.6. the Figure Above Represents the Market

question 121

Multiple Choice

Figure 3.6

-Refer to Figure 3.6. The figure above represents the market for canvas tote bags. Compare the conditions in the market when the price is $50 and when the price is $35. Which of the following describes how the market differs at these prices?

• A)At each price there is a surplus; the surplus is greater at $35 than at $50.
• B)The difference between quantity supplied and quantity demanded is greater at $50 than at $35.
• C)At each price there is a surplus; as supply exceeds demand.
• D)At each price the supply of tote bags exceeds the demand for tote bags.

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Definitions:

Early 1900's

A historical period characterized by significant industrialization, social change, and the genesis of modern labor movements and unions.

U.S.

A country in North America, officially known as the United States of America, characterized by a federal republic governance structure.

Militant Union

A labor union known for its aggressive strategies and actions, such as strikes and protests, to assert workers' rights and demands.

Knights of Labor

A 19th-century labor organization in the United States that advocated for the rights of workers, including better pay and working conditions.