Answer the Question Based on the Following Supply and Demand

question 40

Multiple Choice

Answer the question based on the following supply and demand schedules in units per week for a product. Refer to the above table. If demand increased by 100 units at each price level, and the government set a price ceiling of $40, then there will be:

• A) A shortage
• B) A surplus
• C) No shortage or surplus
• D) Decrease in supply

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Definitions:

Ex-Confederate States

The states that seceded from the Union and formed the Confederacy during the American Civil War, working to reintegrate into the United States post-war.

Fourteenth Amendment

An amendment to the United States Constitution granting citizenship to all persons born or naturalized in the U.S. and protecting civil liberties.

Confederate States

Constitutes the group of southern states that seceded from the United States from 1860-1861, leading to the American Civil War.