Table 43 -The Table Given Below Shows the Quantity Supplied and the |

question 120

Multiple Choice

Table 4.3
$$\begin{array} { | c | c | c | } \hline \text { Price (\$) } & \text { Quantity demanded } & \text { Quantity supplied } \\\hline 1.0 & 100 & 10 \\\hline 1.20 & 90 & 30 \\\hline 1.40 & 80 & 50 \\\hline 1.50 & 70 & 70 \\\hline 1.60 & 60 & 90 \\\hline\end{array}$$
-The table given below shows the quantity supplied and the quantity demanded of 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

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Definitions:

Maxim

A general truth, fundamental principle, or rule of conduct expressed in a concise and often pithy statement.

Categorical Imperative

A foundational concept in the moral philosophy of Immanuel Kant, which prescribes actions as universally mandatory, based on their maxims being capable of becoming universal law.

Moral Worth

The value or respectability of actions or decisions based on ethical principles.

Motive

A reason for doing something, especially one that is hidden or not obvious.