The graph shown depicts the market for a good. Suppose the government sets the price of this good at $36. At this price, there is:
A) a surplus (excess supply) of 9,000 units.
B) a shortage (excess demand) of 2,000 units.
C) a shortage (excess demand) of 7,000 units.
D) a surplus (excess supply) of 7,000 units.

Question

The graph shown depicts the market for a good. Suppose the government sets the price of this good at $36. At this price, there is:
A) a surplus (excess supply) of 9,000 units. 
B) a shortage (excess demand) of 2,000 units. 
C) a shortage (excess demand) of 7,000 units. 
D) a surplus (excess supply) of 7,000 units.

Quizplus · Accepted Answer

The Answer of  The graph shown depicts the market for a good. Suppose the government sets the price of this good at $36. At this price, there is:
A) a surplus (excess supply) of 9,000 units. 
B) a shortage (excess demand) of 2,000 units. 
C) a shortage (excess demand) of 7,000 units. 
D) a surplus (excess supply) of 7,000 units.

The Graph Shown Depicts the Market for a Good