Refer to the diagram below. A price of $60 in this market will result in: Supply S60 40 1 Price 1 1 - 20 Demand 50 100 150 200 Quantity a shortage of 50 units. ОООО a surplus of 50 units a shortage of 100 units a surplus of 100 units
Answer
Equelibrium pout (150,40) when Price is 60 demand is 100 and Supply is 200 so this is suppleus of (200-100) = loo units @ @ option