Figure 4-7
-Refer to Figure 4-7. At what price would there be an excess demand of 600 units of the good?

Name: Figure 4-7 -Refer to Figure 4-7. At what price would there be an excess demand of 600 units of the good?
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Question

Figure 4-7  ​
-Refer to Figure 4-7. At what price would there be an excess demand of 600 units of the good?

Quizplus · Accepted Answer

At a price of $5, the quantity demanded is 1600 units while the quantity supplied is 1000 units, resulting in an excess demand of 600 units.

Figure 4-7 ​

Figure 4-7