Suppose That the Demand Curve for a Good Is Given

question 130

Multiple Choice

Suppose that the demand curve for a good is given by Q_D = 100 - 2P_D,while the supply curve for the good is given by Q_S = 60 + 2P_S.If the price in this market is currently equal to 20,then there is currently ______ in the amount of _____ units.

• A) excess demand;20
• B) excess demand;40
• C) excess supply;20
• D) excess supply;40
• E) excess supply;100

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Definitions:

Aversive Events

Unpleasant or harmful events that an individual seeks to avoid or escape from.

Generalized Inability

Broad and pervasive lack of capacity in learning or accomplishing tasks, often not limited to one specific area.

Aggressive Model

A concept in social psychology that suggests observing aggressive behavior can lead individuals to imitate such behavior.