Refer to the above diagram.A surplus of 160 units would be encountered if price was:

Name: Refer to the above diagram.A surplus of 160 units would be encountered if price was:
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

At a price of $1.60, the quantity supplied is 240 units and the quantity demanded is 80 units, resulting in a surplus of 160 units. A higher price would result in an even larger surplus, while a lower price would result in a shortage.

Refer to the Above Diagram