surplus; 100 shortage; 140 surplus; 20 shortage; 160 surplus; 140

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 34RQ: What is the relationship between total surplus and economic efficiency?
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At a price $13, there is a_of_ units of goods.
surplus; 100
shortage; 140
surplus; 20
shortage; 160
surplus; 140
Price of Good X
Quantity Demanded
Quantity Supplied
$10
400
60
11
360
70
12
310
80
13
230
90
14
130
130
15
70
110
Transcribed Image Text:At a price $13, there is a_of_ units of goods. surplus; 100 shortage; 140 surplus; 20 shortage; 160 surplus; 140 Price of Good X Quantity Demanded Quantity Supplied $10 400 60 11 360 70 12 310 80 13 230 90 14 130 130 15 70 110
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