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