Refer to the information provided in Figure 3.19 below to answer the question(s) that follow.
Refer to Figure 3.19. The market is initially in equilibrium at Point
A. If supply shifts from
S
1 to
S
2 and the price of cheeseburgers remains constant at $5.00, there will be
◦ an excess supply of 6 cheeseburgers.
◦ an excess demand of 6 cheeseburgers.
◦ an excess supply of 3 cheeseburgers.
◦ an excess demand of 4 cheeseburgers.