(Table) in the Table, at a Price of $12 A) a Shortage of 20 Units Occurs

question 85

Multiple Choice

(Table) In the table, at a price of $12: $$\begin{array} { l c c } \text { Price } & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\$ 15 & 40 & 80 \\\$ 12 & 50 & 70 \\\$ 10 & 60 & 60 \\\$ 7 & 70 & 50 \\\$ 5 & 80 & 40\end{array}$$

• A) a shortage of 20 units occurs.
• B) equilibrium output is achieved.
• C) a surplus of 40 units occurs.
• D) a surplus of 20 units occurs.

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Definitions:

Articles of Confederation

The original constitution of the United States, ratified in 1781, which was replaced by the US Constitution in 1789.

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