Question: Price Quantity Demanded Quantity Supplied $18 0 12 $15 4 10 $12 8 8 $9 12 6 $6 16 4 $3 20 2 Refer to

Price Quantity Demanded Quantity Supplied

$18 0 12

$15 4 10

$12 8 8

$9 12 6

$6 16 4

$3 20 2

Refer to Table 7-4. At a price of $6, how large would total surplus be?

a.

less than it would be at the equilibrium price
b.

more than it would be at the equilibrium price
c.

less than it could be when price is $3
d.

more than it could be when price is $9

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