(Figure: Market) Use the figure to answer the questions.
(i) What is the equilibrium price?
(ii) What is the equilibrium quantity?
(iii) At the price of $400, the market is experiencing a _____ (shortage/surplus) of _____ units.
(iv) At the price of $200, the market is experiencing a _____ (shortage/surplus) of _____ units.

Question

(Figure: Market) Use the figure to answer the questions.
  (i) What is the equilibrium price?
(ii) What is the equilibrium quantity?
(iii) At the price of $400, the market is experiencing a _____ (shortage/surplus) of _____ units.
(iv) At the price of $200, the market is experiencing a _____ (shortage/surplus) of _____ units.

Quizplus · Accepted Answer

The Answer of (Figure: Market) Use the figure to answer the questions.
  (i) What is the equilibrium price?
(ii) What is the equilibrium quantity?
(iii) At the price of $400, the market is experiencing a _____ (shortage/surplus) of _____ units.
(iv) At the price of $200, the market is experiencing a _____ (shortage/surplus) of _____ units.

(Figure: Market) Use the Figure to Answer the Questions