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A local grocery store orders 200 cases of Pepsi each week and sells them at a price of $6.00 per case. At the end of
A local grocery store orders 200 cases of Pepsi each week and sells them at a price of $6.00 per case. At the end of the first week, they have only sold 160 cases. What economic situation is the grocery store facing and what will have to happen to price in order for equilibrium to be attained? (please explain the answer. thank you)
a. surplus; price will rise.
b. surplus; price will fall.
c. shortage; price will rise.
d. shortage; price will fall.
e. nothing since the market is in equilibrium.
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