Use the table below to answer the following questions.
Table 3.4.1

-Refer to Table 3.4.1.If the price is $3,then the shortage is
A)zero units.
B)1,050 units.
C)180 units.
D)600 units.
E)160 units.

Question

Use the table below to answer the following questions.
Table 3.4.1
 
-Refer to Table 3.4.1.If the price is $3,then the shortage is
A)zero units. 
B)1,050 units. 
C)180 units. 
D)600 units. 
E)160 units.

Quizplus · Accepted Answer

The shortage is calculated as the difference between the quantity demanded and the quantity supplied at a given price. If the price is $3, the shortage is 180 units, as this is the difference between the higher quantity demanded and the lower quantity supplied at that price.

Use the Table Below to Answer the Following Questions