Table 4-9
the Following Table Shows the Supply and Demand

question 239

Short Answer

Table 4-9
The following table shows the supply and demand schedules in a market.
$$\begin{array} { | l | l | l | } \hline \text { Price (\$) } & \begin{array} { l } \text { Quantity } \\\text { Demanded } \\\text { (units) }\end{array} & \begin{array} { l } \text { Quantity } \\\text { Supplied } \\\text { (units) }\end{array} \\\hline 0 & 50 & 0 \\\hline 2 & 40 & 15 \\\hline 4 & 30 & 30 \\\hline 6 & 20 & 45 \\\hline 8 & 10 & 60 \\\hline 10 & 0 & 75 \\\hline\end{array}$$
-Refer to Table 4-9. At a price of $2, will there be a surplus or shortage of units in this market?

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Definitions:

Joseph Niepce

Joseph Niepce was a French inventor who is credited with taking the world's first photograph in 1826 or 1827, pioneering a key moment in the history of photography.

Camera

A device used to capture images or video, either as still photographs or as moving images in the form of a video.

Film Processor

A machine or device used in the development and processing of photographic films to produce negatives or slides.

Cinématographe

A compact, portable hand-cranked machine invented by Auguste and Louis Lumière and first exhibited in Paris in 1895. It was a camera, a processing device, and a projector all in one.