Quantity

Price

$($dollars per pound$)$

$3$

$4$

$5$

$6$

$7$

supplied

$($pounds$)$

$1$

$2$

$4$

$5$

$6$

Quantity

demanded

$($pounds$)$

$7$

$5$

$4$

$2$

$1$

The above table shows the demand schedule and supply schedule for chocolate chip cookies. If the price is $$4\mathrm{.}00$ per pound, there is a

shortage of $2$ pounds of chocolate chip cookie

shortage of $3$ pounds of chocolate chip cookies.

shortage of $5$ pounds of chocolate chip cookies.

surplus of $3$ pounds of chocolate chip cookies.