ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question

#86. In the table shown, what would be the result if the price were $8?

A. A surplus of 30 units would exist and price would tend to fall.
B. A surplus of 60 units would exist and price would tend to rise.
C. A surplus of 60 units would exist and price would tend to fall.
D. A shortage of 30 units would exist and price would tend to rise.

#87. What would result if the price were set at $1.75 

A. There would be a shortage of 40 units.
B. There would be a surplus of 40 units.
C. There would be a surplus of 20 units.
D. The market would be in equilibrium.

Please provide right answer tutor. GRACIE ^-^

Price $8 7 6 5 4 3 2 1 10 20 30 40 S D 50 60 70 80 Quantity
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Transcribed Image Text:Price $8 7 6 5 4 3 2 1 10 20 30 40 S D 50 60 70 80 Quantity
PRICE $10 8 6 642 2 QUANTITY DEMANDED 10 20 30 40 50 QUANTITY SUPPLIED 100 80 60 40 20
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Transcribed Image Text:PRICE $10 8 6 642 2 QUANTITY DEMANDED 10 20 30 40 50 QUANTITY SUPPLIED 100 80 60 40 20
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