-Refer to Exhibit 3-1.At a price of $2 there is a
A) shortage of 100 units.
B) shortage of 200 units.
C) shortage of 150 units.
D) surplus of 200 units..
E) surplus of 150 units.

Name: -Refer to Exhibit 3-1.At a price of $2 there is a A) shortage of 100 units. B) shortage of 200 units. C) shortage of 150 units. D) surplus of 200 units.. E) surplus of 150 units.
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Question

-Refer to Exhibit 3-1.At a price of $2 there is a
A) shortage of 100 units. 
B) shortage of 200 units. 
C) shortage of 150 units. 
D) surplus of 200 units.. 
E) surplus of 150 units.

Quizplus · Accepted Answer

A shortage of 200 units occurs when the quantity demanded exceeds the quantity supplied at a given price, which is $2 in this scenario.