What Is the Amount of the Shortage or Surplus in the Market

question 138

Multiple Choice

What is the amount of the shortage or surplus in the market for public transportation when the price ceiling is $1.75? $\text { Market for Public Transportation }$
$\begin{array} { l l c } \hline \text { Price } & \text { Quantity Demanded } & \text { Quantity Supplied } \\\hline \$ 0.75 & 100,000 & 65,000 \\\$ 1.00 & 92,000 & 80,000 \\\$ 1.25 & 86,000 & 86,000 \\\$ 1.50 & 80,000 & 100,000 \\\$ 1.75 & 75,000 & 115,000 \\\$ 2.00 & 68,000 & 116,000 \\\hline\end{array}$

• A) 100,000
• B) 86,000
• C) 75,000
• D) 40,000
• E) 0 zero)

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Definitions:

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