Answered: According to the above table, at a…

According to the above table, at a price of $1 per unit, which of the following would exist? A) a surplus of 200 units B) a shortage of 200 units C) a shortage of 800 units D) a surplus of 800 units

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

Price per
Constant-
Quality Unit
$1.00
2.00
3.00
4.00
5.00
Quantity Demanded
of Constant-Quality
Units per Year
1,000
800
600
400
200
According to the above table, at a price of $1 per unit, which of the following would
exist?
A) a surplus of 200 units
Quantity Supplied
of Constant-Quality
Units per Year
200
400
600
800
1,000
OB) a shortage of 200 units
OC
C) a shortage of 800 units
ⒸD) a surplus of 800 units

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