TTTQuantity DemandedQuantity SuppliedPrice Per UnitPer YearPer Year2,0001,8001,6001,4001,2001,000$5103001560020900251,2001,50030Refer to the above table. A surplus of 500 units will occur when the price is:a) $10 per unitb) $15 per unitc) $20 per unitd) $30 per unit

Given : The table showing different quantity demanded and quantity supplied at each level of prices…

Answered: TTT Quantity Demanded Per Year Quantity…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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TTT Quantity Demanded Per Year Quantity Supplied Per Year Price Per Unit $5 2,000 1,800 1,600 1,400 1,200 1,000 10 300 15 600 20 900 25 1,200 1,500 30 Refer to the above table. A surplus of 500 units will occur when the price is: a) $10 per unit O b) $15 per unit c) $20 per unit O d) $30 per unit