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The individual demand and supply schedules below represent the market for Michelin star restaurants in Chicago. Tasting Menus Michelin Star Restaurants, Chicago (Demand Schedule -
The individual demand and supply schedules below represent the market for Michelin star restaurants in Chicago. Tasting Menus Michelin Star Restaurants, Chicago (Demand Schedule - per month) Price Omar Shelia Aliyah Market Demand $100 9 14 23 46 150 5 10 18 200 4 8 16 250 0 3 10 Tasting Menus Michelin Star Restaurants, Chicago (Supply Schedule - per month) Price Grace Alinea Acadia Market Supply $100 0 2 9 150 4 4 10 200 7 10 11 250 13 15 24 Based on the tables, which of the following represent the excess quantity supplied at a price of $250? (To help get you started, I've completed the market demand at $100). Question 4 Answer a. 43 b. 19 c. 39 d. 22
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