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97) The supply and demand schedules for the umbrella market are given below: Price Quantity Supplied Quantity Demanded $10 400 700 $15 500 650 $20

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97) The supply and demand schedules for the umbrella market are given below: Price Quantity Supplied Quantity Demanded $10 400 700 $15 500 650 $20 600 600 $25 700 550 $30 800 500 TABLE 3-2 Refer to Table 3-2. At a price of there would be an excess of umbrellas. A) $30; demand B) $15; supply C) $10; supply D) $20; supply E) $25; supply

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