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The table above shows the number of cases of water each seller is willing to sell at the prices listed. If the four suppliers listed are the only suppliers in this market and the market quantity demanded is 500 cases when the price is $4.00, which of the following statements is correct? A.The market is in equilibrium at a price of $4.00. B.There is a surplus of 100 cases at a price of $4.00. C.There is a shortage of 100 cases at a price of $4.00. D.There is a shortage of 50 cases at a price of $4.00. E.There is a price floor at $4.00

/in /by

The table above shows the number of cases of water each seller is willing to sell at the prices

listed. If the four suppliers listed are the only suppliers in this market and the market quantity demanded is 500 cases when the price is $4.00, which of the following statements is correct?

A.The market is in equilibrium at a price of $4.00.

B.There is a surplus of 100 cases at a price of $4.00.

C.There is a shortage of 100 cases at a price of $4.00.

D.There is a shortage of 50 cases at a price of $4.00.

E.There is a price floor at $4.00

 
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