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The Table Given Below Shows the Quantity Supplied and the Quantity

Question 119

Multiple Choice

The table given below shows the quantity supplied and the quantity demanded for a good at different prices.If the price of the good described in the table given below is $1.60,then there is a:
 Table 4.1 Price($)   Quantity  demanded  Quantity  supplied 1100101.290301.480501.570701.66090\begin{array}{l}\text { Table } 4.1\\\begin{array} { | r | r | r | } \hline { \text { Price(\$) } } & { \begin{array} { l } \text { Quantity } \\\text { demanded }\end{array} } & { \begin{array} { l } \text { Quantity } \\\text { supplied }\end{array} } \\\hline 1 & 100 & 10 \\\hline 1.2 & 90 & 30 \\\hline 1.4 & 80 & 50 \\\hline 1.5 & 70 & 70 \\\hline 1.6 & 60 & 90 \\\hline\end{array}\end{array}


A) shortage of 30 units.
B) surplus of 30 units.
C) shortage of 20 units.
D) surplus of 20 units.
E) surplus of 10 units.

Correct Answer:

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