-In the figure above, if the price is $8 a unit, is there a shortage or surplus and what is the amount of any shortage or surplus? What is the equilibrium price and quantity?
Definitions:
Random Variable
A random phenomenon's numerical outcomes manifested in a variable.
Discrete Random
Refers to a type of random variable that can take on a countable number of distinct values, such as whole numbers, but not fractions.
Number Of Customers
The total count of individuals or entities that purchase or use a company's products or services.
Gender Of Customers
A demographic variable referring to the classification of customers based on their gender identity, often used in market research for segmentation and analysis.
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