at the price of $2.00, what is the difference between the quantity demanded and the quantity supplied…
at the price of $2.00, what is the difference between the quantity demanded and the quantity supplied? supply and demand surplus supply demand shortage quantity
Answer
Explanation:
Step1: Identify quantity - demanded and - supplied from graph
From the graph, at a price of $2.00, the quantity - demanded is 300 units and the quantity - supplied is 100 units.
Step2: Calculate the difference
Difference = Quantity demanded - Quantity supplied. So, Difference = 300 - 100.
Answer:
200