Price (dollars per Quantity Quantity cellular demanded supplied phone) (thousands) (thousands) 100 50 100 80 55 80 50 60 50 20 100 40 22. Using the data in the above table, the equilibrium quantity and equilibrium price for a cellular telephone is a) 50 thousand and $100. b) 80 thousand and $80. c) 60 thousand and $50. d) 40 thousand and $20. 23. Using the data in the above table, at the price of $80 a phone, a a) shortage of 25 thousand cellular telephones occurs. b) surplus of 80 thousand cellular telephones occurs. c) surplus of 25 thousand cellular telephones occurs. d) shortage of 55 thousand cellular telephones occurs