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

Question

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

Quizplus · Accepted Answer

At a price of $25, the quantity supplied exceeds the quantity demanded, leading to a surplus. The specific quantities involved are not provided in the text, but the choice correctly identifies a surplus situation.

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