-In Table 3.2, if the price is $2, a ____ of ____ units will occur.
A) shortage; 12
B) shortage; 14
C) surplus; 12
D) surplus; 14
E) surplus; 19

Name: -In Table 3.2, if the price is $2, a ____ of ____ units will occur. A) shortage; 12 B) shortage; 14 C) surplus; 12 D) surplus; 14 E) surplus; 19
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Question

-In Table 3.2, if the price is $2, a ____ of ____ units will occur.
A) shortage; 12 
B) shortage; 14 
C) surplus; 12 
D) surplus; 14 
E) surplus; 19

Quizplus · Accepted Answer

At a price of $2, the quantity demanded is 14 units, while the quantity supplied is only 12 units. This means that there will be a shortage of 14 - 12 = 2 units.