-Refer to the above graph to answer this question.What are the implications if the price of this product is $14?
A)The price would be below equilibrium.
B)There would be a shortage of 600 units.
C)There would be a shortage of 1,200 units.
D)There would be a surplus of 600 units.
E)There would be a surplus of 1,200 units.

Question

-Refer to the above graph to answer this question.What are the implications if the price of this product is $14?
A)The price would be below equilibrium. 
B)There would be a shortage of 600 units. 
C)There would be a shortage of 1,200 units. 
D)There would be a surplus of 600 units. 
E)There would be a surplus of 1,200 units.

Quizplus · Accepted Answer

If the price is $14, it is above the equilibrium price, leading to a surplus of 600 units as supply exceeds demand.

-Refer to the Above Graph to Answer This Question