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Use the Following to Answer Questions: Table: Equilibrium Price, Quantity

Question 265

Multiple Choice

Use the following to answer questions: Table: Equilibrium Price, Quantity PQdQs$105030124535144040163545183050\begin{array} { c c c } \hline \boldsymbol { P } & \boldsymbol { Q } _ { \mathbf { d } } & \boldsymbol { Q } _ { \mathbf { s } } \\\hline \$ 10 & 50 & 30 \\12 & 45 & 35 \\14 & 40 & 40 \\16 & 35 & 45 \\18 & 30 & 50 \\\hline\end{array}
-(Table: Equilibrium Price, Quantity) Refer to the table. If the price in the market was $16, there would be a:


A) shortage of 10 units.
B) shortage of 35 units.
C) surplus of 10 units.
D) surplus of 45 units.

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