(Figure: Interpreting Market Equilibrium) If the price is $10, then there is a _____ units and the price will _____.

Question

Quizplus · Accepted Answer

At a price of $10, the quantity demanded is 6,000 units and the quantity supplied is 4,000 units, resulting in a shortage of 2,000 units. In a market with a shortage, sellers can increase the price and still sell all of their goods, so the price will rise until the shortage is eliminated.

(Figure: Interpreting Market Equilibrium) If the Price Is $10, Then