Table 43 -The Table Given Below Shows the Quantity Supplied and the |

Table 4.3
$$\begin{array} { | c | c | c | } \hline \text { Price (\$) } & \text { Quantity demanded } & \text { Quantity supplied } \\\hline 1.0 & 100 & 10 \\\hline 1.20 & 90 & 30 \\\hline 1.40 & 80 & 50 \\\hline 1.50 & 70 & 70 \\\hline 1.60 & 60 & 90 \\\hline\end{array}$$
-The table given below shows the quantity supplied and the quantity demanded of a good at different prices. If the price of the good is $1.40, there is a _____.

A) shortage of 30 units
B) surplus of 30 units
C) shortage of 20 units
D) surplus of 20 units
E) surplus of 10 units

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free