Use the table below to answer the following questions.

-Refer to Table 3.5.1.If the price is set at $80, there will be a

Question

Use the table below to answer the following questions.
 
-Refer to Table 3.5.1.If the price is set at $80, there will be a

Quizplus · Accepted Answer

At a price of $80, if there is a surplus of 200 units, it indicates that the quantity supplied exceeds the quantity demanded. In a market, when there is a surplus, the price tends to fall to eliminate the surplus by making the product more attractive to buyers and less profitable for sellers to produce, hence adjusting the supply and demand balance.

Use the Table Below to Answer the Following Questions