Question

N

41、42

Table 4-10
The following table shows the number of cases of water each seller is willing to sell at the prices listed.
Alpine Springs
Brook Mountain
Cascade Waters
0 cases
60 cases
Dew Good
0 cases
0 cases
100 cases
120 cases
200 cases
180 cases
300 cases
Price per case
|$0.00
$3.00
$6.00
|$9.00
100 cases
200 cases
300 cases
41. Refer to Table 4-10. If the four suppliers listed are the only suppliers in this market and the market
quantity demanded is 500 cases when the price is $5.00, which of the following statements is correct?
a. The market is in equilibrium at a price of $5.00.
b. There is a surplus of 100 cases at a price of $5.00.
c. There is a shortage of 100 cases at a price of $5.00.
Name:
0 cases
40 cases
80 cases
120 cases
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d. There is a shortage of 50 cases at a price of $5.00.
42. If something happens to alter the quantity demanded at any given price, then
a. the demand curve becomes steeper.
b. the demand curve becomes flatter.
c. the demand curve shifts.
d. we move along the demand curve.
Date:
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