The numbers in the table below characterize the market for raccoon skins in Minnesota during the 2010-2011 trapping season. The demand schedule that prevailed in November and December of 2010 is denoted by "Original Quantity Demanded," and the demand schedule that prevailed from late January onward is denoted by "Quantity Demanded-Late January."

-Refer to the table above.Given the original demand,at a price of $18 per raccoon skin,there is a ________.

Question

The numbers in the table below characterize the market for raccoon skins in Minnesota during the 2010-2011 trapping season. The demand schedule that prevailed in November and December of 2010 is denoted by "Original Quantity Demanded," and the demand schedule that prevailed from late January onward is denoted by "Quantity Demanded-Late January."
 
-Refer to the table above.Given the original demand,at a price of $18 per raccoon skin,there is a ________.

Quizplus · Accepted Answer

At a price of $18 per raccoon skin, the original quantity demanded was 900 skins, but the quantity supplied was only 760 skins. Therefore, there was a shortage of 140 skins.

The Numbers in the Table Below Characterize the Market for Raccoon