Table 4-6

$$\begin{array} { | c | c | c | }
\hline \begin{array} { c }
\text { Price } \
\text { (Dollars per unit) }
\end{array} & \begin{array} { c }
\text { Quantity Demanded } \
\text { (Units) }
\end{array} & \begin{array} { c }
\text { Quantity Supplied } \
\text { (Units) }
\end{array} \
\hline 15 & 10 & 60 \
\hline 12 & 20 & 45 \
\hline 9 & 30 & 30 \
\hline 6 & 40 & 15 \
\hline 3 & 50 & 0 \
\hline
\end{array}$$
-Refer to Table 4-6. If the price were $12, a
A)shortage of 10 units would exist, and price would tend to rise.
B)surplus of 25 units would exist, and price would tend to fall.
C)shortage of 25 units would exist, and price would tend to rise.
D)surplus of 10 units would exist, and price would tend to fall.

Question

Table 4-6
​
​
 $$\begin{array} { | c | c | c | } 
\hline \begin{array} { c } 
\text { Price } \
\text { (Dollars per unit) }
\end{array} & \begin{array} { c } 
\text { Quantity Demanded } \
\text { (Units) }
\end{array} & \begin{array} { c } 
\text { Quantity Supplied } \
\text { (Units) }
\end{array} \
\hline 15 & 10 & 60 \
\hline 12 & 20 & 45 \
\hline 9 & 30 & 30 \
\hline 6 & 40 & 15 \
\hline 3 & 50 & 0 \
\hline
\end{array}$$ ​
-Refer to Table 4-6. If the price were $12, a
A)shortage of 10 units would exist, and price would tend to rise.
B)surplus of 25 units would exist, and price would tend to fall.
C)shortage of 25 units would exist, and price would tend to rise.
D)surplus of 10 units would exist, and price would tend to fall.

Quizplus · Accepted Answer

At a price of $12, the quantity demanded is 20 units, and the quantity supplied is 45 units. This results in a surplus of 25 units (45 supplied - 20 demanded), which typically causes the price to fall.

Table 4-6 ​ ​ ​ -Refer to Table 4-6

Table 4-6

-Refer to Table 4-6