Use the Following Demand and Supply Functions: Demand $Q _ { d } = 50 - 4 P$

question 71

Multiple Choice

Use the following demand and supply functions: Demand: $Q _ { d } = 50 - 4 P$ Supply: $Q _ { s } = 20 + 2 P$ If the price is $2,there is a

• A)surplus of 10 units.
• B)shortage of 10 units.
• C)surplus of 30 units.
• D)shortage of 18 units.
• E)none of the above

---

Definitions:

Financial Institutions

Financial institutions are organizations that provide financial services, including banks, credit unions, insurance companies, and investment firms, facilitating the flow of funds and financial transactions.

High-Income Countries

High-Income Countries are nations with a high gross national income per capita, often characterized by advanced economic development and complex industrial bases.

Continuous Supply

The ongoing provision of goods or services to meet constant or recurring demand.

Rules of The Game

Unwritten, socially accepted norms and practices that guide behavior and interactions in various situations.