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Effects of SurplusThe table shows the quantity of stuffed animals that are demanded and supplied at ...

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Effects of SurplusThe table shows the quantity of stuffed animals that are demanded and supplied at ...

Effects of Surplus

The table shows the quantity of stuffed animals that are demanded and supplied at various prices:

Price	Quantity Demanded	Quantity Supplied
1	96	21
2	84	34
3	72	47
4	60	60
5	48	73
6	36	86

Suppose the market price is set to $3. This market has a ________ (shortage/surplus) of stuffed animals equal to ________.
Suppose the market price is set to $6. This market has a ________ (shortage/surplus) of stuffed animals equal to ________.

▸ shortage, 25, shortage, 50

▸ surplus, 25, shortage, 50

▸ surplus, 25, surplus, 50

▸ shortage, 25, surplus, 50

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 53 times

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