The following figure shows the demand and supply curves for USB flash drives. D is the demand curve and S1 is the initial supply curve. Price 10 20 400 60 Quantity (units) Refer to the figure above. When the supply curve of flash drives is S2 and the demand curve of flash drives is D, what is the surplus in the market when the price is $7? 0 units 40 units 10 units 20 units

The following figure shows the demand and supply curves for USB flash drives. D is the demand curve and S1 is the initial supply curve.

Price 10 20 400 60 Quantity (units)

Refer to the figure above. When the supply curve of flash drives is S2 and the demand curve of flash drives is D, what is the surplus in the market when the price is $7?

0 units
40 units
10 units
20 units

 

 

Answer:

0 units

Market surplus when the price is $7 and supply curve is S2 is 0 units

Asked on February 14, 2018 in economics.
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