The product is a normal product.

-Refer to the graph above to answer this question.What does the distance Q1 to Q2 represent?
A)An increase in the quantity demanded.
B)A surplus at price P1.
C)A shortage at price P1.
D)The result of a decrease in income.

Question

The product is a normal product.
 
-Refer to the graph above to answer this question.What does the distance Q1 to Q2 represent?
A)An increase in the quantity demanded. 
B)A surplus at price P1. 
C)A shortage at price P1. 
D)The result of a decrease in income.

Quizplus · Accepted Answer

The distance Q1 to Q2 represents a shortage at price P1. This means that at the given price P1, the quantity demanded (Q1) exceeds the quantity supplied (Q2), resulting in a shortage.

The Product Is a Normal Product