-Refer to Exhibit 3-4.A price of $2 in the market will result in a
A) shortage of 10 units.
B) surplus of 10 units.
C) surplus of 5 units.
D) shortage of 5 units.

Name: -Refer to Exhibit 3-4.A price of $2 in the market will result in a A) shortage of 10 units. B) surplus of 10 units. C) surplus of 5 units. D) shortage of 5 units.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

-Refer to Exhibit 3-4.A price of $2 in the market will result in a
A) shortage of 10 units. 
B) surplus of 10 units. 
C) surplus of 5 units. 
D) shortage of 5 units.

Quizplus · Accepted Answer

At a price of $2, the quantity demanded exceeds the quantity supplied, leading to a shortage of 10 units.