Use the table below to answer the following questions.
Price dollars per unit)
Table 3.4.1
Quantity Demanded
Quantity Supplied units)
-Refer to Table 3.4.1.If the price is $3, then the shortage is

Question

Use the table below to answer the following questions.
Price dollars per unit)
Table 3.4.1
Quantity Demanded
  Quantity Supplied units)
-Refer to Table 3.4.1.If the price is $3, then the shortage is

Quizplus · Accepted Answer

To find the shortage at a price of $3, we need to look for the quantity where the quantity demanded equals the quantity supplied. Looking at the table, we see that at a price of $3, the quantity demanded is 330 units and the quantity supplied is only 150 units. Thus, there is a shortage of 180 units (330 - 150 = 180). Therefore, the answer is E, 180 units.

Use the Table Below to Answer the Following Questions