According to the graph shown, if price in this market is currently $14, there would be a Price $20 18 16 14 12 10 4. 10 20 30 40 50 60 70 80 90 100 Quantity Select one: a. surplus of 20 units O b. shortage of 40 units C. surplus of 40 units d. shortage of 20 units

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 21P
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According to the graph shown, if price in this market is currently $14, there would be a
Price
$20
18
16
14
on
12
10
8.
4.
D
10 20 30 40 50 60 70 80 90 100 Quantity
Select one:
O a. surplus of 20 units
O b. shortage of 40 units
O c. surplus of 40 units
O d. shortage of 20 units
Transcribed Image Text:According to the graph shown, if price in this market is currently $14, there would be a Price $20 18 16 14 on 12 10 8. 4. D 10 20 30 40 50 60 70 80 90 100 Quantity Select one: O a. surplus of 20 units O b. shortage of 40 units O c. surplus of 40 units O d. shortage of 20 units
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