Figure 3-5

-Refer to Figure 3-5.At a price of $20,
A)there would be a surplus of 8 units.
B)there would be a shortage of 8 units.
C)there would be a surplus of 0 units.
D)there would be a shortage of 4 units.

Question

Figure 3-5
 
-Refer to Figure 3-5.At a price of $20,
A)there would be a surplus of 8 units. 
B)there would be a shortage of 8 units. 
C)there would be a surplus of 0 units. 
D)there would be a shortage of 4 units.

Quizplus · Accepted Answer

At a price of $20, the quantity supplied exceeds the quantity demanded by 8 units, resulting in a surplus of 8 units.

Figure 3-5 -Refer to Figure 3-5.At a Price of $20