Question

W20 MICRO ECON 1020 MW SEC 24 Test: ECON1020 TEST 2 onomics 1 of 47 (0 complete) This Question: 1 pt Price (dollars per unit) Quantity Supplied (units) Quantity Demanded (units) 1,100 800 600 500 COWN 200 420 500 580 640 680 700 ext 320 300 e Library Refer to Table 3 4.1. If the price is $7, then the surplus is esources Study Modules O A. 360 units OB. 160 units O C. 290 units OD. 400 units O E zero units nication Tools > Click to select your answer. Type here to search o e e

Answer 1

A. 360 units
At price of 7, quantity demanded is 320 and quantity supplied is 680, then surplus is 680-320= 360