The diagram below represents the market for butter. S Price of butter (per kilogram) 2 D 2 4 6 8 10 12 14 Quantity Demanded and Supplied of Butter (thousands of kilograms/year) Refer to Figure 4-1. What is the shortage or surplus of butter at a market price of $5 per kilogram? O a shortage equal to 4000 kilograms of butter O a surplus equal to 4000 kilograms of butter VO a surplus equal to 7000 kilograms of butter butterTABLE 4-2 Price D 1 D 2 S 1 $16 7 12 17 30 $14 10 15 15 27 $12 13 18 13 24 $10 15 21 11 21 $8 18 24 9 18 $6 20 27 15 Refer to Table 4-2. Suppose that Dj and S, are the prevailing demand and supply curves for a product. Which of the following will happen in the market if the demand schedule changes from Dj to D2? x .The equilibrium price decreases from $12 to $10. The equilibrium quantity increases from 13 to 18. The equilibrium price increases from $12 to $14. n 15 to 13.TABLE 3-1 0 / 1 point Price of DVDs Maya Seema Rest of the Market Market $24 $20 $16 11 9 11 $12 14 11 14 $8 17 14 20 Refer to Table 3-1. It illustrates the demand schedules for DVDs of two individuals and the rest of the market. At a price of $20, what quantity of DVDs would be demanded in the market? X 12 22 31 39 0 / 1 pointTABLE 3-1 Price of DVDs Maya Seema Rest of the Market Market $24 $20 $16 11 9 11 $12 14 11 14 $8 17 14 20 Refer to Table 3-1. It illustrates the demand schedules for DVDs of two individuals and the rest of the market. At a price of $16, what quantity of DVDs would be demanded in the market? 12 22 31 39