Figure 3.5

-Refer to Figure 3.5. At a price of $20, there would be a:
A)surplus of 8 units.
B)shortage of 8 units.
C)surplus of 0 units.
D)shortage of 4 units.

Name: Figure 3.5 -Refer to Figure 3.5. At a price of $20, there would be a: A)surplus of 8 units. B)shortage of 8 units. C)surplus of 0 units. D)shortage of 4 units.
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Question

Figure 3.5
 
-Refer to Figure 3.5. At a price of $20, there would be a:
A)surplus of 8 units. 
B)shortage of 8 units. 
C)surplus of 0 units. 
D)shortage of 4 units.

Quizplus · Accepted Answer

At a price of $20, the quantity supplied exceeds the quantity demanded, resulting in a surplus of 8 units.

Figure 3.5 -Refer to Figure 3.5. at a Price of $20, There