The table given below shows the quantity supplied and the quantity demanded for a good at different prices. If the price of the good is $1.40, there is a _____.
Table 4.1

Question

The table given below shows the quantity supplied and the quantity demanded for a good at different prices. If the price of the good is $1.40, there is a _____.​ ​
Table 4.1

Quizplus · Accepted Answer

At the price of $1.40, the quantity demanded is 70 units and the quantity supplied is only 40 units. This creates a shortage of 30 units (70 - 40 = 30).

The Table Given Below Shows the Quantity Supplied and the Quantity