Table 4-2 -Refer to Table 4-2

Table 4-2
$\begin{array}{|c|c|c|}\hline \text { Price }(\$) & \text { Quantity demanded } & \text { Quantity supplied } \\\hline 25 & 1 & 25 \\\hline 20 & 2 & 20 \\\hline 15 & 3 & 15 \\\hline 10 & 4 & 10 \\\hline 5 & 5 & 5 \\\hline\end{array}$
-Refer to Table 4-2.In the table shown, suppose the current price was $25.This would mean:

A) a surplus of 1 unit would exist and price would tend to fall
B) a shortage of 24 units would exist and price would tend to fall
C) a surplus of 24 units would exist and price would tend to fall
D) a shortage of 1 unit would exist and price would tend to rise

Correct Answer:

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