Let's break this down step-by-step.
We are given a table that shows the number of tickets demanded by members and non-members at different price points alongside a constant quantity supplied at each price point.
We need to focus on the scenario where the ticket price is set at [tex]$20. From the table, we can extract the relevant data:
- At $[/tex]\[tex]$20$[/tex], the number of tickets demanded by members is 600.
- At [tex]$\$[/tex]20[tex]$, the number of tickets demanded by non-members is 300.
- The quantity supplied at $[/tex]\[tex]$20$[/tex] is 600 tickets.
Now, let's calculate the total demand at this price point:
[tex]\[
\text{Total demand} = \text{Demand by members} + \text{Demand by non-members}
\][/tex]
Substituting the given values:
[tex]\[
\text{Total demand} = 600 + 300 = 900 \text{ tickets}
\][/tex]
Next, we compare the total demand to the quantity supplied to determine if there is a shortage or surplus:
[tex]\[
\text{Quantity supplied} = 600 \text{ tickets}
\][/tex]
We subtract the quantity supplied from the total demand to find the difference:
[tex]\[
\text{Difference} = \text{Quantity supplied} - \text{Total demand} = 600 - 900 = -300 \text{ tickets}
\][/tex]
Since the result is negative, it means there is a shortage, as the demand exceeds the supply. Specifically, there is a shortage of 300 tickets.
Thus, the correct answer is:
a shortage of 300 tickets.
