Question 19
MediumOriginal questionA market's demand and supply schedules are given.
| Price (₹) | 2 | 4 | 6 | 8 | 10 |
|---|---|---|---|---|---|
| Quantity demanded | 80 | 60 | 40 | 20 | 0 |
| Quantity supplied | 0 | 20 | 40 | 60 | 80 |
At a price of ₹2, what is the excess demand?
Show the answer and explanation
CorrectNot quiteAnswer D
Correct answer: D
Explanation
At ₹2, 80 are demanded and 0 supplied: excess demand = 80.
- Concept
- Excess demand at a low price
- Typical timeTypical
- 70 s
- Your timeYours
- —
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