Asked by
Clarissa Aponte
on Nov 30, 2024
Verified
In the graph shown above at a price of $38
A) there is a surplus.
B) there is a shortage.
C) quantity demanded is greater than quantity supplied.
D) there is a shortage and quantity demanded is greater than quantity supplied,but there is not a surplus.
E) there is a surplus and quantity demanded is greater than quantity supplied,but there is not a shortage.
Shortage
A situation where the demand for a product exceeds its supply in the market.
Quantity Demanded
The entire quantity of a product or service that buyers are prepared and capable of buying at a certain price within a defined timeframe.
- Acquire knowledge about the phenomena of shortages and surpluses and how they shape market dynamics.
Verified Answer
KP
Learning Objectives
- Acquire knowledge about the phenomena of shortages and surpluses and how they shape market dynamics.