The following table shows the market demand schedule and supply schedule for notebooks.

-Refer to the table above.What is the shortage in the market when the price of a notebook is $3?

Name: The following table shows the market demand schedule and supply schedule for notebooks. -Refer to the table above.What is the shortage in the market when the price of a notebook is $3?
Brand: Quizplus
Rating: 4.7 (48 reviews)

Question

The following table shows the market demand schedule and supply schedule for notebooks.
 
-Refer to the table above.What is the shortage in the market when the price of a notebook is $3?

Quizplus · Accepted Answer

At a price of $3, the quantity demanded is 15 and the quantity supplied is 11. Therefore, there is a shortage of 15-11=4 units.

The Following Table Shows the Market Demand Schedule and Supply