When the price is $6, there is a surplus of 8 units

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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Refer to Figure 6-4. Which of the following statements is not correct?

A) When the price is $10, quantity supplied equals quantity demanded

B) When the price is $6, there is a surplus of 8 units

C) When the price is $12, there is a surplus of 4 units

D) When the price is $16, quantity supplied exceeds quantity demanded by 12 units

 
Figure 6-4
1Price
20
Supply
10+
16
14
12
10
Dand
2468 10 12 14 16 18 20 Deantity
Refer to Figure 6-4. Which of the following statements is not correct?
Oa. When the price is $10, quantity supplied equals quantity demanded.
Ob. When the price is $6, there is a surplus of 8 units.
Oc. When the price is $12, there is a surplus of 4 units.
Od. When the price is $16, quantity supplied exceeds quantity demanded by 12 units.
Transcribed Image Text:Figure 6-4 1Price 20 Supply 10+ 16 14 12 10 Dand 2468 10 12 14 16 18 20 Deantity Refer to Figure 6-4. Which of the following statements is not correct? Oa. When the price is $10, quantity supplied equals quantity demanded. Ob. When the price is $6, there is a surplus of 8 units. Oc. When the price is $12, there is a surplus of 4 units. Od. When the price is $16, quantity supplied exceeds quantity demanded by 12 units.
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