Question 1 Suppose the market demand and supply curve are given above. At a pric
ID: 1203389 • Letter: Q
Question
Question 1
Suppose the market demand and supply curve are given above. At a price of $7 there is a _______________________.
surplus of 4 units
surplus of 6 units
shortage of 2 units
d. shortage of 6 units
__________________________________________________________________________________________________________________________________________
Question 2
Suppose the market demand and supply curve are given above. At a price of $13 there is a __________________.
surplus of 2 units
surplus of 3 units
shortage of 1 unit
shortage of 3 units
a.surplus of 4 units
b.surplus of 6 units
c.shortage of 2 units
d. shortage of 6 units
Explanation / Answer
1) shortage of 2 units
2) Surplus of 3 units
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