Suppose the Equilibrium Price for Soft Drinks Is $1

question 307

Multiple Choice

Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each

• A) there will be a surplus of soft drinks.
• B) there will be a shortage of soft drinks.
• C) the supply curve of soft drinks will shift leftward.
• D) the demand curve for soft drinks will shift leftward.

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