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The apple industry was used as a supply and demand example in this video. When the price per pound of apples is $3. what is

The apple industry was used as a supply and demand example in this video. When the price per pound of apples is $3. what is the amount of surplus or shortage?

Select one:

a. Surplus of 1,700 lbs

b. Surplus of 1,000 lbs

c. Shortage of 1,700 lbs.

d. Shortage of 4,000 lbs.

e. Zero. The market is in equilibrium at $3/lbs.

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