-Refer to Exhibit 3-14.At a price of $15,there is a ____________ of ____________ units of good X.
A) shortage; 40
B) surplus; 90
C) surplus; 40
D) shortage; 20
E) surplus; 20

Name: -Refer to Exhibit 3-14.At a price of $15,there is a ____________ of ____________ units of good X. A) shortage; 40 B) surplus; 90 C) surplus; 40 D) shortage; 20 E) surplus; 20
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Question

-Refer to Exhibit 3-14.At a price of $15,there is a ____________ of ____________ units of good X.
A) shortage; 40 
B) surplus; 90 
C) surplus; 40 
D) shortage; 20 
E) surplus; 20

Quizplus · Accepted Answer

At a price of $15, the quantity supplied exceeds the quantity demanded by 40 units, resulting in a surplus of 40 units of good X.