Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $8, the price will
A. remain constant because the market is in equilibrium.
B. increase because there is an excess supply in the market.
C. decrease because there is an excess demand in the market.
D. decrease because there is an excess supply in the market.
Answer: D
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a. True b. False
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A. constant. B. increasing. C. positive. D. negative.