Exhibit 3-4
-Refer to Exhibit 3-4.A price of $6 in the market will result in a
A)shortage of 10 units.
B)surplus of 10 units.
C)surplus of 5 units.
D)shortage of 5 units.

Name: Exhibit 3-4 -Refer to Exhibit 3-4.A price of $6 in the market will result in a A)shortage of 10 units. B)surplus of 10 units. C)surplus of 5 units. D)shortage of 5 units.
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Question

Exhibit 3-4 
-Refer to Exhibit 3-4.A price of $6 in the market will result in a
A)shortage of 10 units. 
B)surplus of 10 units. 
C)surplus of 5 units. 
D)shortage of 5 units.

Quizplus · Accepted Answer

At a price of $6, the quantity demanded is 20 units and the quantity supplied is 30 units, creating a surplus of 10 units.

Exhibit 3-4 -Refer to Exhibit 3-4.A Price of $6 in the Market