Complete Table 3 Quantity Supplied By A) Be in Equilibrium

question 135

Multiple Choice

Complete Table 3.1.Then answer the indicated question. Table 3.1 Individual Demand and Supply Schedules In Table 3.1, if the price is $8, the market will
Quantity Demanded by
$\begin{array}{rccc}\text { Price } & \text { Alejandro } & \text { Ben } & \text { Carl } & \text { Market} \\\hline \$8.00& 8 & 4 & 2 &\_\_\_\\6.00 & 12 & 4 & 4 &\_\_\_\\4.00 & 20 & 4 & 6 &\_\_\_\\2.00 & 22 & 4 & 6&\_\_\_\\\end{array}$ Quantity Supplied by
$\begin{array}{lccc}\text { Price } & \text { Avery } & \text { Brandon } & \text { Cassandra } \\\hline \$ 8.00 & 60 & 4 & 6 &\_\_\_\\\$ 6.00 & 42 & 4 & 4&\_\_\_ \\\$ 4.00 & 24 & 4 & 2 &\_\_\_\\\$ 2.00 & 6 & 4 & 0&\_\_\_\\\end{array}$

• A) Be in equilibrium.
• B) Experience a surplus of 30 units.
• C) Experience a shortage of 22 units.
• D) Experience a surplus of 56 units.

---

Definitions:

Management Intuition

The use of personal instincts, feelings, and experiences by managers to make decisions, often in the absence of explicit data.

Evidence-Based Management

The practice of making managerial decisions and organizational policies based on the best available evidence from scientific research and business data.

Management

The act of overseeing and coordinating tasks and processes in an organization to ensure efficient and effective operations towards achieving specific objectives.

Scientific Evidence

Information that serves to either support or counter a scientific theory or hypothesis, gathered through empirical observation and documentation.