$\begin{array}{|l|l|l|}
\hline\begin{array}{l}
\text { Price } \
\text { (dollars per } \
\text { cellular } \
\text { phone) }
\end{array} & \begin{array}{l}
\text { Quantity } \
\text { demanded } \
\text { (thousands) }
\end{array} & \begin{array}{l}
\text { Quantity } \
\text { supplied } \
\text { (thousands) }
\end{array} \\hline 100 & 50 & 100 \
\hline 80 & 55 & 80 \
\hline 50 & 60 & 60 \
\hline 20 & 100 & 40 \
\hline
\end{array}$
-Using the data in the above table, at the price of $80 a phone, a

Question

Quizplus · Accepted Answer

At a price of $80, the quantity demanded is 55 thousand and the quantity supplied is 80 thousand. Therefore, there is a surplus of 80 - 55 = 25 thousand cellular telephones.

-Using the Data in the Above Table, at the Price