Price Per UnitQuantity Demanded Per YearQuantity Supplied Per Year$ 52,0000101,800300151,600600201,400900251,2001,200301,0001,500 Refer to the above table. A shortage of 1,500 units will occur when the price is

Answer to the question is as follows:

Answered: Price Per Unit Quantity Demanded Per…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Price Per Unit	Quantity Demanded Per Year	Quantity Supplied Per Year
$ 5	2,000	0
10	1,800	300
15	1,600	600
20	1,400	900
25	1,200	1,200
30	1,000	1,500

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Price Per Unit Quantity Demanded Per Year Quantity Supplied Per Year $ 5 2,000 0 10 1,800 300 15 1,600 600 20 1,400 900 25 1,200 1,200 30 1,000 1,500 Refer to the above table. A shortage of 1,500 units will occur when the price is