Price (S) 1.0 Quantity demanded i Quantity supplied 100 1.20 1.40 1.50 1.60 88828 10 90...

 

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Price (S) 1.0 Quantity demanded i Quantity supplied 100 1.20 1.40 1.50 1.60 88828 10 90 30 80 50- 70 70 60 90 The table given below shows the quantity supplied and the quantity demanded of a good at different prices. If the price of the good described in the table given below is $1.60, then there is a Table 4.3 a) shortage of 20 units. b) surplus of 10 units. c) surplus of 20 units. d) surplus of 30 units. shortage of 30 units. Price (S) 1.0 Quantity demanded i Quantity supplied 100 1.20 1.40 1.50 1.60 88828 10 90 30 80 50- 70 70 60 90 The table given below shows the quantity supplied and the quantity demanded of a good at different prices. If the price of the good described in the table given below is $1.60, then there is a Table 4.3 a) shortage of 20 units. b) surplus of 10 units. c) surplus of 20 units. d) surplus of 30 units. shortage of 30 units.

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To determine whether there is a shortage or surplus at a given price we compare th... View the full answer