The Table Below Displays Hypothetical Demand and Supply Schedules for the Market

question 138

Multiple Choice

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada.
TABLE 3-4
-Refer to Table 3-4.Suppose the price of overnight parcel delivery in Year 1 is $22.Which of the following statements is correct? In Year 1

• A)there is an excess demand of 15 million deliveries.
• B)there is an excess demand of 30 million deliveries.
• C)115 million parcels will be delivered.
• D)there is an excess supply of 15 million deliveries.
• E)there is an excess supply of 30 million deliveries.

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Definitions:

Online Disputes

Conflicts or disagreements that arise in the virtual environment and can be resolved through electronic negotiation or mediation platforms.

Juries

Groups of citizens selected to make a decision or judgment in a legal proceeding, typically in a trial.

Supreme Court of Canada

The highest court in Canada, which serves as the final court of appeal for legal issues in the country.

Appeals

The process of challenging a decision made by a lower court by asking a higher court to review and change the decision.