If the price of chocolate-covered peanuts is $0.50, there is a: Question 4 options: shortage of 70 bags per month. surplus of 35 bags per month. surplus of 70 bags per month. shortage of 35 bags per month.
If the price of chocolate-covered peanuts is $0.50, there is a: Question 4 options: shortage of 70 bags per month. surplus of 35 bags per month. surplus of 70 bags per month. shortage of 35 bags per month.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Table: The Market for Chocolate-Covered Peanuts
Price (per bag) | Quantity Demanded (bags per month) | Quantity Supplied (bags per month) |
---|---|---|
$0.90 | 70 | 280 |
$0.80 | 105 | 245 |
$0.70 | 140 | 210 |
$0.60 | 175 | 175 |
$0.50 | 210 | 140 |
$0.40 | 245 | 105 |
$0.30 | 280 | 70 |
Reference: Ref 3-5 Table: The Market for Chocolate-Covered Peanuts
(Table: The Market for Chocolate-Covered Peanuts) Use Table: The Market for Chocolate-Covered Peanuts. If the price of chocolate-covered peanuts is $0.50, there is a:
Question 4 options:
|
shortage of 70 bags per month. |
|
surplus of 35 bags per month. |
|
surplus of 70 bags per month. |
|
shortage of 35 bags per month. |
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