Exhibit 8- Suppose that in a recent market period, the following relationship existed between the price of tablet devices and the quantity supplied and quantity demanded. Price Quantity Demanded Quantity Supplied $330 100 million 40 million $340 90 million 60 million $350 80 million 80 million $360 70 million 100 million $370 60 million 120 million 19- In Exhibit 8, If the industry price is $340, is there a shortage or surplus of tablet devices? How much is the shortage or surplus?
Exhibit 8- Suppose that in a recent market period, the following relationship existed between the price of tablet devices and the quantity supplied and quantity demanded.
Price Quantity Demanded Quantity Supplied
$330 100 million 40 million
$340 90 million 60 million
$350 80 million 80 million
$360 70 million 100 million
$370 60 million 120 million
19- In Exhibit 8, If the industry price is $340, is there a shortage or surplus of tablet devices? How much is the shortage or surplus?
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