Refer to the table below.If the price of this good is $2.00,there would be a ________ of ________ units.

A) shortage; 20
B) surplus; 50
C) shortage; 30
D) surplus; 30
E) surplus; 20

Question

Refer to the table below.If the price of this good is $2.00,there would be a ________ of ________ units.

A) shortage; 20 
B) surplus; 50 
C) shortage; 30 
D) surplus; 30 
E) surplus; 20

Quizplus · Accepted Answer

At a price of $2.00, consumers demand 70 units while producers only supply 40 units, resulting in a shortage of 30 units. Therefore, the correct choice is C) shortage; 30.

Refer to the Table Below