$$\begin{array} { | c | c | c | c | c | }
\hline ( 1 ) & ( 2 ) & ( 3 ) & ( 4 ) & \text { (5) } \
Q _ { d } & Q _ { d } & \text { Price } & Q _ { S } & Q _ { S } \
\hline 50 & 40 & \$ 10 & 70 & 80 \
\hline 60 & 50 & 9 & 60 & 70 \
\hline 80 & 60 & 8 & 50 & 60 \
\hline 90 & 70 & 7 & 40 & 50 \
\hline 100 & 80 & 6 & 30 & 40 \
\hline
\end{array}$$ Refer to the table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5). If the price were arti?cially set at $6,

Question

$$\begin{array} { | c | c | c | c | c | } 
\hline ( 1 ) & ( 2 ) & ( 3 ) & ( 4 ) & \text { (5) } \
Q _ { d } & Q _ { d } & \text { Price } & Q _ { S } & Q _ { S } \
\hline 50 & 40 & \$ 10 & 70 & 80 \
\hline 60 & 50 & 9 & 60 & 70 \
\hline 80 & 60 & 8 & 50 & 60 \
\hline 90 & 70 & 7 & 40 & 50 \
\hline 100 & 80 & 6 & 30 & 40 \
\hline
\end{array}$$ Refer to the table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5). If the price were arti?cially set at $6,

Quizplus · Accepted Answer

At a price of $6, the quantity demanded would be 80, while the quantity supplied would be 40. This creates a shortage of 40 units, since demand exceeds supply. Therefore, option C is the correct answer. Option A is incorrect because the market would not clear at a price of $6. Option B is incorrect because a surplus would not occur, but rather a shortage. Option D is incorrect because there is no reason to believe that demand would change from columns (3) and (2) to columns (3) and (1) simply because of a change in price.

Refer to the Table