$\begin{array}{ccc}
\text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \
30 & \$ 10 & 64 \
40 & \$ 8 & 55 \
50 & \$ 6 & 50 \
60 & \$ 4 & 40 \
70 & \$ 2 & 20
\end{array}$
-When price is $2

Question

Quizplus · Accepted Answer

At a price of $2, the quantity demanded is 70 and the quantity supplied is 20, indicating a shortage because demand exceeds supply.

-When Price Is $2 A)there Is a Surplus

-When Price Is $2
A)there Is a Surplus