Suppose that the following table shows the supply and demand schedules for Arabian light crude oil on the free market:Price(Dollars/barrel)Quantity demanded (mil. barrels per day)Quantity Supplied (mil. barrels per day)261410271311281212291113301014Given the information in the table, the only price at which there is neither shortage nor surplus is:
A. $28 per barrel.
B. $29 per barrel.
C. $27 per barrel.
D. $26 per barrel.
Answer: A
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