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According to the accompanying graph, if the price is $20, there is a ________ of ________ units.

a. surplus; 100
b. surplus; 150
c. shortage; 100
d. surplus; 50
e. shortage; 50

According To The Accompanying Graph If The Price Is 20 There Is A Of Units A Surplus 100 B Surplus 150 C Shortage 100 D Surplus 50 E Shortage 50 class=

Answer :

Analyzing the graph, it is found that there is a shortage of 100 units, given by option c.

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  • In the graph, the price is given by the y-axis.
  • When the price is of $20, the supply is of 50 units.
  • The demand is of 150 units.
  • Demand > supply, thus, there is a shortage.
  • 150 - 50 = 100, thus, a shortage of 100 units, given by option c.

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