-Refer to the above graph to answer this question.What are the implications if the price of this product is $8?
A)The price would be above equilibrium.
B)There would be a shortage of 300 units.
C)There would be a shortage of 600 units.
D)There would be a surplus of 300 units.
E)There would be a surplus of 600 units.

Question

-Refer to the above graph to answer this question.What are the implications if the price of this product is $8?
A)The price would be above equilibrium. 
B)There would be a shortage of 300 units. 
C)There would be a shortage of 600 units. 
D)There would be a surplus of 300 units. 
E)There would be a surplus of 600 units.

Quizplus · Accepted Answer

At a price of $8, the quantity supplied is 300 units less than the quantity demanded, resulting in a shortage of 300 units.

-Refer to the Above Graph to Answer This Question