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courtneyjuma courtneyjuma
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A year ago
The following table shows the market demand schedule and supply schedule for notebooks.

Price ($ per unit)Quantity Demanded (units)Quantity Supplied (units)
1204
2166
31410
41212
51014
6717
7420
8222
9125


Refer to the table above. Which of the following statements is TRUE?

▸ There is a surplus of 4 notebooks in the market when the price of one notebook is $5.

▸ There is a shortage of 12 notebooks in the market when the price of one notebook is $4.

▸ There is a surplus of 10 notebooks in the market when the price of one notebook is $8.

▸ There is a shortage of 4 notebooks in the market when the price of one notebook is $6.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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egidrarcegidrarc
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A year ago
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