A graph shows Quantity on the horizontal axis and Price in dollars on the vertical axis. The horizontal axis is numbered from 0 to 350 with 150 as the interval. The vertical axis is numbered from 0 to 6 with 2 as the interval. The identified points along D have the following coordinates: (350,2) The identified points along S have the following coordinates: (350,6) Which of the following is true when price is $2? O surplus of 200 units. O shortage of 100 units. O shortage of 150 units. h O shortage of 200 units. (150,6) (250,4) (150,2) (250,4)

A graph shows Quantity on the horizontal axis and Price in dollars on the vertical axis. The horizontal axis is numbered from 0 to 350 with 150 as the interval. The vertical axis is numbered from 0 to 6 with 2 as the interval. The identified points along D have the following coordinates: (350,2) The identified points along S have the following coordinates: (350,6) Which of the following is true when price is $2? O surplus of 200 units. O shortage of 100 units. O shortage of 150 units. h O shortage of 200 units. (150,6) (250,4) (150,2) (250,4)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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