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 $6, there is a(n)
A. market equilibrium.
B. excess supply of 700 units.
C. excess demand of 1,000 units.
D. excess demand of 500 units.
Answer: D
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Indicate whether the statement is true or false
Differentiate between a normal (superior) and an inferior good
Please provide the best answer for the statement.
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A. produce identical products. B. lose money. C. produce differentiated products. D. are price makers.