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The graph below depicts the market for oranges at a local farmers' market. Market for Oranges 1.0 0.9 0.6 0.7 0.6 dollars 0.5 0.4 D
The graph below depicts the market for oranges at a local farmers' market. Market for Oranges 1.0 0.9 0.6 0.7 0.6 dollars 0.5 0.4 D 0.3 0.2 0.1 D.0 20 40 60 80 100 120 140 160 180 200 Quantity (pounds) a. If the producer tries to sell oranges at $0.80 per pound, the quantity supplied will equal 110 pounds of oranges and the quantity demanded will be 80 pounds of oranges. b. At this price, there will be a surplus of 30 pounds of oranges. The monthly demand and supply schedule for new cars at a large California dealership is shown in the table below. f the dealership is currently charging $25,000 for a new car, at the end of the month there will be: a shortage of 125 cars. a surplus of 5,000 cars. a surplus of 125 cars. a shortage of 5,000 cars
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