The Table Given Below Shows the Quantity Supplied and the Quantity

question 59

Multiple Choice

The table given below shows the quantity supplied and the quantity demanded for a good at different prices. If the price of the good is $1.40, there is a _____.

• A) shortage of 30 units
• B) surplus of 30 units
• C) shortage of 20 units
• D) surplus of 20 units
• E) surplus of 10 units

---

Definitions:

Offeree

The person or party to whom an offer is made in a contract situation.

Mutual Promises

Agreements where both parties commit to perform or refrain from specific actions, forming the basis of a contract.

Enforced

Enforced means to compel compliance or adherence to a law, rule, or obligation, often involving the implementation of measures to ensure that terms or directives are followed.

Void Contracts

Agreements that are not legally enforceable from the outset due to the presence of certain defects in the contract.