Use the figure below to answer the following questions. Figure 3.4.2
-Refer to Figure 3.4.2.When the price is $10 a unit,
A)consumers will buy 100 units of output.
B)consumers will buy 500 units of output.
C)consumers will buy nothing.
D)a shortage occurs.
E)the surplus is zero.

Question

Use the figure below to answer the following questions.  Figure 3.4.2
-Refer to Figure 3.4.2.When the price is $10 a unit,
A)consumers will buy 100 units of output. 
B)consumers will buy 500 units of output. 
C)consumers will buy nothing. 
D)a shortage occurs. 
E)the surplus is zero.

Quizplus · Accepted Answer

At a price of $10 a unit, the quantity demanded by consumers matches the quantity supplied by producers at 100 units, indicating equilibrium with no shortage or surplus.

Use the Figure Below to Answer the Following Questions