Suppose the given supply and demand tables reflect the supply and demand for milk per week. At a price of $1, there is a:Price(per gallon)Quantity demanded (gallons per week)Quantity Supplied (gallons per week)$12,0001,000$21,5001,500$31,0002,000$45002,500
A. shortage of 2,500 gallons per week.
B. surplus of 500 gallons per week.
C. surplus of 1,000 gallons per week.
D. shortage of 1,000 gallons per week.
Answer: D
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