Table 1 -1. Supply and Demand for Personal Computers

-Refer to Table 1 -1. At a market price of $1,700, there will be
A) a surplus or a shortage of 2,000 computers.
B) a shortage of 2,000 computers.
C) a surplus of 2,000 computers.
D) neither a surplus nor a shortage of computers as the market is in equilibrium at this price.

Question

Table 1 -1. Supply and Demand for Personal Computers
 
-Refer to Table 1 -1. At a market price of $1,700, there will be
A) a surplus or a shortage of 2,000 computers. 
B) a shortage of 2,000 computers. 
C) a surplus of 2,000 computers. 
D) neither a surplus nor a shortage of computers as the market is in equilibrium at this price.

Quizplus · Accepted Answer

At a market price of $1,700, the quantity supplied is equal to the quantity demanded, so there is neither a surplus nor a shortage of computers.