What is the surplus and shortage for a firm

Reference no: EM131489518

Question: The table below shows the price, market demand, market supply, and the surplus and shortage for a firm providing a product under perfect competition. Study the information in the table, and then answer the questions below.

a. Some of the information is missing from the table. Calculate the correct information.

b. What is the equilibrium price? How can you tell?

c. What price(s) will produce a surplus?

d. What price(s) will produce a shortage?

Reference no: EM131489518

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