Refer to Figure 3-6. The figure above represents the market for coffee grinders. Compare the conditions in the market when the price is $15 and when the price is $21. Which of the following describes how the market differs at these prices?
A) At each price there is a shortage; the shortage is greater at $15 than at $21.
B) At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage.
C) The difference between quantity supplied and quantity demanded is greater at $21 than at $15.
D) At each price the demand for coffee grinders exceeds the supply of coffee grinders.
A
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