refer to the diagram. a price of $60 in this market will result in

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06-12-2022
Mathematics

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refer to the diagram. a price of $60 in this market will result in

Sagot :

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debjitbhowal4568 debjitbhowal4568 · Answer 1 · 2022-12-19T01:11:13-05:00

A shortage of 100 units will occur at the price of $60 in this market.

What happens if there is a shortage on the market?

There is a shortage when there is an imbalance between supply and demand for an item or service. When this occurs, it is referred to as market disequilibrium. Typically, as soon as the product is replenished and the market returns to normal, this issue will pass.

When there is a surplus, the price is forced lower because there is more supply of the good or service than there is demand for it at the going rate. A shortage occurs when there is a greater demand for a good or service than what is currently being offered, which raises prices.

The demand at that price is $60 units.

The surplus is:

= Supply - demand

= 200 - 100

= 100 units.

Therefore,

A shortage of 100 units will occur at the price of $60 in this market.

To learn more about market disequilibrium visit: brainly.com/question/13985127

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Sagot :

What happens if there is a shortage on the market?

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