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Price Quantity Demanded Quantity Supplied $18 0 12 $15 4 10 $12 8 8 $9 12 6 $6 16 4 $3 20 2 Refer to
Price Quantity Demanded Quantity Supplied
$18 0 12
$15 4 10
$12 8 8
$9 12 6
$6 16 4
$3 20 2
Refer to Table 7-4. At a price of $6, how large would total surplus be?
a. | less than it would be at the equilibrium price | |
b. | more than it would be at the equilibrium price | |
c. | less than it could be when price is $3 | |
d. | more than it could be when price is $9 |
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