The graph below depicts the market for CDs. Which of the following is true at a price of $22?
A. There is a surplus of 41 CDs
B. There is a shortage of 41 CDs
C. There is a shortage of 28 CDs
D. There is a surplus of 28 CDs
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Correct Answer: D, There is a surplus of 28 CDs. Quantity supplied (41) minus quantity demanded (13) yields the surplus (28).