Answered: At a price of $4, what would be created…

At a price of $4, what would be created and what would the amount of what is created be? Shortage:100 Shortage:40 Surplus:100 Surplus:140

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

At a price of $4, what would be created and what would the amount of what is created be?

Shortage:100

Shortage:40

Surplus:100

Surplus:140

Supply and Demand
Price
$4
Supply
S3
S2
Demand
|Quantity
20
40
60
80 100 120

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