Price Per Unit Quantity Demanded Per Year Quantity Supplied Per Year $ 5 2,000 0 10 1,800 300 15 1,600 600 20 1,400 900 25 1,200 1,200 30 1,000 1,500 Refer to the above table

Economics Jun 23, 2021

Price Per Unit Quantity Demanded Per Year Quantity Supplied Per Year $ 5 2,000 0 10 1,800 300 15 1,600 600 20 1,400 900 25 1,200 1,200 30 1,000 1,500
Refer to the above table. A surplus of 500 units will occur when the price is

Expert Solution

Price per Unit	Quantity Demanded	Quantity Supplied	Surplus or Shortage
	Per Year	Per Year	(Quantity Demanded - Quantity Supplied)
5	2000	0	-2000
10	1800	300	-1500
15	1600	600	-1000
20	1400	900	-500
25	1200	1200	0
30	1000	1500	500

** Here, Negative Sign represent shortage.

So, there is a surplus of 500 units when price is $30 per unit. The correct option is 1st "$30".

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