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yandy yandy
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A year ago

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada.

Short description: A table with three main columns and six rows. Long description: The main column headers read, price in dollars, quantity demanded in millions, and quantity supplied in millions. The second and third columns have two sub-columns, each. The sub-column headers read, year 1 and year 2 for each main column. The table infers the following data. Row 1: 30, 80, 95, 140, and 125; Row 2: 26, 90, 105, 135, and 120; Row 3: 22, 100, 115, 130, and 115; Row 4: 18, 110, 125, 125, and 110; Row 5: 14, 120, 135, 120, and 105; Row 6: 10, 130, 145, 115, and 100.

TABLE 3-4

Refer to Table 3-4. Suppose the price of overnight parcel delivery in Year 1 is $22. Which of the following statements is correct? In Year 1,



▸ there is an excess demand of 15 million deliveries.

▸ there is an excess demand of 30 million deliveries.

▸ there is an excess supply of 30 million deliveries.

▸ 115 million parcels will be delivered.

▸ there is an excess supply of 15 million deliveries.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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yandy Author
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A year ago
Just got PERFECT on my quiz
sleinhi
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Yesterday
You make an excellent tutor!
mcraver1
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2 hours ago
Smart ... Thanks!
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