Use the following schedule of data for for the following question
$$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { Dollars/Widget) }
\end{array} & \begin{array} { c }
\text { Quartity Dernarded } \
\text { Hundreds) }
\end{array} & \begin{array} { c }
\text { Quartity Bupplied } \
\text { Hurdreds) }
\end{array} \
\hline \$ 25 & 25 & 45 \
\hline 24 & 30 & 40 \
\hline 22 & 35 & 35 \
\hline 20 & 40 & 30 \
\hline 18 & 45 & 25 \
\hline
\end{array}$$
-Using the above data, if the price of a widget is $20, then a ___________________ of widgets exists and the quantity of widgets demanded _____ the quantity of widgets supplied.

Question

Use the following schedule of data for for the following question 
 $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { Dollars/Widget) }
\end{array} & \begin{array} { c } 
\text { Quartity Dernarded } \
\text { Hundreds) }
\end{array} & \begin{array} { c } 
\text { Quartity Bupplied } \
\text { Hurdreds) }
\end{array} \
\hline \$ 25 & 25 & 45 \
\hline 24 & 30 & 40 \
\hline 22 & 35 & 35 \
\hline 20 & 40 & 30 \
\hline 18 & 45 & 25 \
\hline
\end{array}$$
-Using the above data, if the price of a widget is $20, then a ___________________ of widgets exists and the quantity of widgets demanded _____ the quantity of widgets supplied.

Quizplus · Accepted Answer

At a price of $20, the quantity demanded is 40 hundreds of widgets, and the quantity supplied is 30 hundreds of widgets. This means the quantity demanded is greater than the quantity supplied, indicating a shortage.

Use the Following Schedule of Data for for the Following