If the Demand and Supply Functions for Z-Brand Phones Are

question 222

Multiple Choice

If the demand and supply functions for Z-brand phones are and respectively, compare the quantity demanded and the quantity supplied when p = 46. Note that q is the quantity produced or sold. Are there surplus phones or not enough to meet demand? ​​

• A) There will be a surplus at a price of $46.
• B) There will be a shortage at a price of $46.

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