The Table Given Below Shows the Quantity Supplied and the Quantity

question 8

Multiple Choice

The table given below shows the quantity supplied and the quantity demanded for a good at different prices.If the price of the good described in the table given below is $1.50,then:​ ​
Table 4.1
​

• A)there is a shortage in the market.
• B)there is a surplus in the market.
• C)the market is in equilibrium.
• D)the supply of the good increases by 30 units.
• E)the demand for the good increases by 30 units.

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Definitions:

Production Costs

The total expenses incurred in manufacturing a product or offering a service, including raw materials, labor, and overhead.

Consumer Income

The total amount of income a consumer or household earns from various sources, including employment, investments, and benefits, which impacts their spending and saving behaviors.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded at those prices.

Consumer Income

The total earnings of an individual or household from various sources, determining their purchasing power.