Exhibit 3-8 Demand and Supply Data for Video Games
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Price
Quantity Demanded
of Video Games
Quantity Supplied
of Video Games
$75
400
900
70
450
850
65
500
800
60
550
750
55
600
700
50
650
650
45
700
600
40
750
550
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In Exhibit 3-8, at any market price of video games above $50, a(n) ______________ would result, causing price to __________.
A. excess demand; rise
B. excess supply; rise
C. excess demand; fall
D. excess supply; fall
Answer: D
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