Table 6-2
$$\begin{array} { | l | l | l | }
\hline \text { Price (\$) } & \begin{array} { l }
\text { Quantity } \
\text { Demanded }
\end{array} & \begin{array} { l }
\text { Quantity } \
\text { Supplied }
\end{array} \
\hline 0 & 21 & 0 \
\hline 1 & 18 & 4 \
\hline 2 & 15 & 8 \
\hline 3 & 12 & 12 \
\hline 4 & 9 & 16 \
\hline 5 & 6 & 20 \
\hline 6 & 3 & 24 \
\hline 7 & 0 & 28 \
\hline
\end{array}$$
-Refer to Table 6-2. If the government set a price floor at $4, would there be a shortage or surplus, and how large would be the shortage/surplus?

Question

Table 6-2
 $$\begin{array} { | l | l | l | } 
\hline \text { Price (\$) } & \begin{array} { l } 
\text { Quantity } \
\text { Demanded }
\end{array} & \begin{array} { l } 
\text { Quantity } \
\text { Supplied }
\end{array} \
\hline 0 & 21 & 0 \
\hline 1 & 18 & 4 \
\hline 2 & 15 & 8 \
\hline 3 & 12 & 12 \
\hline 4 & 9 & 16 \
\hline 5 & 6 & 20 \
\hline 6 & 3 & 24 \
\hline 7 & 0 & 28 \
\hline
\end{array}$$
-Refer to Table 6-2. If the government set a price floor at $4, would there be a shortage or surplus, and how large would be the shortage/surplus?

Quizplus · Accepted Answer

The Answer of Table 6-2
 $$\begin{array} { | l | l | l | } 
\hline \text { Price (\$) } & \begin{array} { l } 
\text { Quantity } \
\text { Demanded }
\end{array} & \begin{array} { l } 
\text { Quantity } \
\text { Supplied }
\end{array} \
\hline 0 & 21 & 0 \
\hline 1 & 18 & 4 \
\hline 2 & 15 & 8 \
\hline 3 & 12 & 12 \
\hline 4 & 9 & 16 \
\hline 5 & 6 & 20 \
\hline 6 & 3 & 24 \
\hline 7 & 0 & 28 \
\hline
\end{array}$$
-Refer to Table 6-2. If the government set a price floor at $4, would there be a shortage or surplus, and how large would be the shortage/surplus?

Table 6-2 -Refer to Table 6-2