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Use the Following Demand and Supply Functions: Demand Qd=90060pQ _ { d } = 900 - 60 p

Question 72

Multiple Choice

Use the following demand and supply functions: Demand: Qd=90060pQ _ { d } = 900 - 60 p Supply: Qs=200+50PQ _ { s } = - 200 + 50 \mathrm { P } If the price is currently $11,there is a


A) surplus of 110 units.
B) shortage of 240 units.
C) surplus of 350 units.
D) shortage of 700 units.

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