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.

---

Definitions:

Ritalin

A medication commonly prescribed to treat Attention Deficit Hyperactivity Disorder (ADHD) by affecting neurotransmitters in the brain.

Opioids

A class of drugs that include the illegal drug heroin, synthetic opioids such as fentanyl, and pain relievers available by prescription, noted for their potent analgesic properties.

Antipsychotic Drugs

Medications used to treat psychiatric conditions by altering neurotransmitter levels in the brain, particularly used for managing schizophrenia, bipolar disorder, and other major mental illnesses.

Orexin

A neuropeptide that regulates arousal, wakefulness, and appetite, playing a crucial role in sleep-wake cycles.