(Table) Using the data for the market for lattes in the table, at a price of $10: $$\begin{array} { l c c c c c c }
\mathbf { P } & \mathbf { \$ 1 0 } & \mathbf { \$ 8 } & \mathbf { \$ 6 } & \mathbf { \$ 4 } & \mathbf { \$ 2 } & \mathbf { \$ 0 } \
\mathbf { Q } _ { d } & 3 & 7 & 10 & 14 & 20 & 30 \
\boldsymbol { Q } _ { s } & 20 & 15 & 10 & 7 & 3 & 0
\end{array}$$

Question

(Table) Using the data for the market for lattes in the table, at a price of $10: $$\begin{array} { l c c c c c c } 
\mathbf { P } & \mathbf { \$ 1 0 } & \mathbf { \$ 8 } & \mathbf { \$ 6 } & \mathbf { \$ 4 } & \mathbf { \$ 2 } & \mathbf { \$ 0 }  \
\mathbf { Q } _ { d } & 3 & 7 & 10 & 14 & 20 & 30 \
\boldsymbol { Q } _ { s } & 20 & 15 & 10 & 7 & 3 & 0
\end{array}$$

Quizplus · Accepted Answer

At a price of $10, the quantity supplied (3) is less than the quantity demanded (20), so there is a shortage of lattes.

(Table) Using the Data for the Market for Lattes in the Table