Question 1
The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada.
TABLE 3-4
Refer to Table 3-4. If the price of overnight parcel delivery in Year 2 is $10, how many parcels will actually be delivered?
◦ 115
◦ 145
◦ 45
◦ 100
◦ 130
Question 2
The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada.
TABLE 3-4
Refer to Table 3-4. Suppose the price of overnight parcel delivery in Year 1 is $22. Which of the following statements is correct? In Year 1,
◦ there is an excess demand of 15 million deliveries.
◦ there is an excess demand of 30 million deliveries.
◦ there is an excess supply of 30 million deliveries.
◦ 115 million parcels will be delivered.
◦ there is an excess supply of 15 million deliveries.
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