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Using the following table to answer the question below. Price per Unit Quantity Demand Per Year Quantity Supplied per Year $5 2,000 0 $10 1,800
Using the following table to answer the question below.
Price per Unit Quantity Demand Per Year Quantity Supplied per Year
$5 2,000 0
$10 1,800 300
$15 1,600 600
$20 1,400 900
$25 1,200 1,200
$30 1,000 1,500
There will be a shortage whenever the price is:
- equals $25
- higher than $30
- higher than $25
- lower than $25
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