On a competitive market, consumers demand 144 units and producers supply 10 units at a price of 5. When price increases to 10, consumers demand 71 units and producers supply 37 units. By how much did the market shortage decreased because of this price increase? When the price of widges is 18, the quantity demanded of widgets is 16 and the quantity supplied of widges is 56. What is the surplus on this market? At the current price, there is a shortage of 47 units on the market and consumers demand 85 units. What is the quantity supplied by producers? The market demand is given by the following function: P=200-CL The market supply is given by the following function: P=50+2Q Calculate the shortage that occurs on the market, if the market price is 98. Round your answer to 2 decimals, if needed. The market demand is given by the following function: P=554-4Q. The market supply is given by the following function: P=79+2Q. Calculate the equilibrium quantity. Round your answer to 2 decimals, if needed. An increase in consumer income will: A' reduce quantity demanded, but not shift the demand curve. 3' increase equilibrium price and quantity if the product is a normal good. C' have no effect on equilibrium price and quantity. D'decrease equilibrium price and quantity if the product is a normal good