Figure 4-18
-Refer to Figure 4-18.At what price would there be an excess supply of 200 units of the good?

Name: Figure 4-18 -Refer to Figure 4-18.At what price would there be an excess supply of 200 units of the good?
Brand: Quizplus
Rating: 5.0 (64 reviews)

Question

Figure 4-18 
-Refer to Figure 4-18.At what price would there be an excess supply of 200 units of the good?

Quizplus · Accepted Answer

At a price of $30, the quantity supplied is 400 units and the quantity demanded is 200 units. This is an excess supply of 200 units. At any price below $30, there would be excess demand, and at any price above $30, there would be excess supply. Therefore, the equilibrium price is $30.

Figure 4-18 -Refer to Figure 4-18.At What Price Would There Be an There