-In the above figure, if the price is equal to $50, there is
A)a surplus of 200 units.
B)a shortage of 100 units.
C)an excess quantity demanded of 50 units.
D)an inadequate supply of 100 units.

Question

-In the above figure, if the price is equal to $50, there is
A)a surplus of 200 units. 
B)a shortage of 100 units. 
C)an excess quantity demanded of 50 units. 
D)an inadequate supply of 100 units.

Quizplus · Accepted Answer

If the price is set at $50 and there is a surplus of 200 units, it means that the quantity supplied exceeds the quantity demanded by 200 units at that price level.

-In the Above Figure, If the Price Is Equal to $50