Table: The Market for Chocolate-Covered Peanuts

Price

Quantity demanded

Quantity supplied

(per bag)

(bags per month)

(bags per month)

$0.90

70

280

$0.80

105

245

$0.70

140

210

$0.60

175

175

$0.50

210

140

$0.40

245

105

$0.30

280

70

Reference: Ref 3-5

(Table: The Market for Chocolate-Covered Peanuts) If the price of chocolate-covered peanuts is $0.80, there is:

A.a surplus of 70 bags per month.

B.a shortage of 70 bags per month.

C.a shortage of 140 bags per month.

D.a surplus of 140 bags per month.