Figure 3-4
-Refer to Figure 3-4.If the price is $25,
A)there would be a surplus of 300 units.
B)there would be a shortage of 300 units.
C)there would be a surplus of 200 units.
D)there would be a shortage of 200 units.

Question

Figure 3-4 
-Refer to Figure 3-4.If the price is $25,
A)there would be a surplus of 300 units. 
B)there would be a shortage of 300 units. 
C)there would be a surplus of 200 units. 
D)there would be a shortage of 200 units.

Quizplus · Accepted Answer

At a price of $25, the quantity supplied is 600 units and the quantity demanded is 300 units. Therefore, there would be a surplus of 300 units.

Figure 3-4 -Refer to Figure 3-4.If the Price Is $25