The demand and supply schedule for a product is shown below. The government sets a maximum price of $4 per unit. What will be the shortage of the product after four weeks? Pick a, b, c, or d a. 1,100 b. 2,500 c. 4,400 d. 0

The demand and supply schedule for a product is shown below. The government sets a maximum price of $4 per unit. What will be the shortage of the product after four weeks? Pick a, b, c, or d a. 1,100 b. 2,500 c. 4,400 d. 0

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

Quantity
Demanded Supplied
Quantity
Price
per week
per week
1
3,000
1,800
2,000
2,100
2,500
2,500
4
2,100
3,200
1,500
4,000
6.
700
5,000
%24

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