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Assume That the Price for a Pair of Shoes Has

Question 58

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Assume that the price for a pair of shoes has been set at $40. The demand for a pair of shoes is given by Assume that the price for a pair of shoes has been set at $40. The demand for a pair of shoes is given by and the supply for the same pair of shoes is . In both cases p is price per pair and q is the quantity produced or sold. Compare the quantity demanded and the quantity supplied. Will there be a surplus or shortfall at this price? ​ A) There will be a shortfall. B) There will be a surplus. and the supply for the same pair of shoes is Assume that the price for a pair of shoes has been set at $40. The demand for a pair of shoes is given by and the supply for the same pair of shoes is . In both cases p is price per pair and q is the quantity produced or sold. Compare the quantity demanded and the quantity supplied. Will there be a surplus or shortfall at this price? ​ A) There will be a shortfall. B) There will be a surplus. . In both cases p is price per pair and q is the quantity produced or sold. Compare the quantity demanded and the quantity supplied. Will there be a surplus or shortfall at this price? ​


A) There will be a shortfall.
B) There will be a surplus.

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