Use the Following Demand and Supply Functions to Answer the Following

question 67

Multiple Choice

Use the following demand and supply functions to answer the following. Demand: $Q _ { d } = 50 - 4 P$ Supply: $Q _ { s } = 20 + 2 P$
- If the price is $10, there is a

• A) surplus of 30 units.
• B) shortage of 30 units.
• C) surplus of 40 units.
• D) shortage of 10 units.
• E) none of the above

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