Question: Question #1. The data in the table below was obtained by a market analyst employed by RUDYs, a firm that sells summer sandals.Prices are given

Question #1. The data in the table below was obtained by a market analyst employed by RUDYs, a firm that sells summer sandals.Prices are given in Canadian dollars per unit. Use the data given to answer the questions that follow. Quantity demanded, Qd, and supplied, Qs, is given in thousands of units.

Find the shortage/surplus, Qd' and Qs' at each price.

Price($/unit) Q1? Q2?Shortage/surplusQ_d' Q_s'

90 2000 0 ________________ ____ ____

100 1800 300 ________________ ____ ____

110 1600 600 ________________ ____ ____

120 1400 900 ________________ ____ ____

130 1200 1200 ________________ ____ ____

140 1000 1400 ________________ ____ ____

150 800 1600 ________________ ____ ____

160 600 1800 ________________ ____ ____

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