Figure 4.2.3.
-Look at Figure 4.2.3. At a price of $4 there is a
A) surplus of 20.
B) shortage of 20.
C) surplus of 10.
D) surplus of 40.
E) shortage of 40.

Name: Figure 4.2.3. -Look at Figure 4.2.3. At a price of $4 there is a A) surplus of 20. B) shortage of 20. C) surplus of 10. D) surplus of 40. E) shortage of 40.
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Question

Figure 4.2.3.
-Look at Figure 4.2.3. At a price of $4 there is a
A) surplus of 20. 
B) shortage of 20. 
C) surplus of 10. 
D) surplus of 40. 
E) shortage of 40.

Quizplus · Accepted Answer

At a price of $4, the quantity demanded is 30 and the quantity supplied is only 10. Therefore, there is a shortage of 20.

Figure 4.2.3. -Look at Figure 4.2.3. at a Price of $4 There