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(Figure 3.3) If the current market price is $14, then A graph plots two lines for supply and demand, in which the y axis is
(Figure 3.3) If the current market price is $14, then A graph plots two lines for supply and demand, in which the y axis is labeled dollars per unit and the x axis is labeled quantity.The x axis ranges from 0 to 50 in increments of 5. The y axis ranges from 0 to 20 in increments of 2. A rising line labeled, supply, and a falling line labeled, demand, are plotted. The line labeled supply passes through the points (0, 0), (5, 2), (10, 4), (15, 6), (20, 8), (25, 10), (30, 12), (35, 14), (40, 16), (45, 18), and (50, 20). The line labeled demand passes through the points (0, 20), (5, 18), (10, 16), (15, 14), (20, 12), (25, 10), (30, 8), (35, 6), (40, 4), (45, 2), and (50, 0). Multiple Choice surplus of 20 units. the market would be in equilibrium. surplus of 30 units. shortage of 20 units. shortage of 30 units
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