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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Exhibit 3-8 presents supply and demand data for the video game market. If the price of video games was currently $70, there would be an ____________ of ______________ video games in this market.
A. excess demand; 450
B. excess demand; 500
C. excess supply; 400
D. excess supply; 850
Answer: C
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