Quantity Demanded by Price Aleiandro Ben CaMarket 4 4 $8.00 8 6.00 12 4.00 20 2.

Question

Quantity Demanded by Price Aleiandro Ben CaMarket 4 4 $8.00 8 6.00 12 4.00 20 2.00 22 4 Quantity Supplied by Price Avery Brandon Cassandra $8.0060 $6.0042 $4.00 24 $2.006 4 4 4 Table 3.1 Individual Demand and Supply Schedules in Table 3 1 if the price is $8, the market will Experience a shortage of 22 units Experience a surplus of 56 units Be in equilibrium Experience a surplus of 30 units Click Save and Subrmit to save and submit. Click Save All Answers to save all ansuers Search the web and Windows

Explanation / Answer

Market = Quantity demanded of Alejandro + ben + Carl

Market = Quantity supplied of Alejandro + ben + Carl

When price is 8, quantity demanded ( = 14) is less than quantity supplied ( = 70) and there will be a surplus in the market.

Surplus = 70 - 14 = 56.

Price Market 8 14 6 20 4 30 2 32

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