Price per unit (dollars) 11 D 0 8 14 20 35 40 Quantity 12. In Exhibit 9, if the

Question

Price per unit (dollars) 11 D 0 8 14 20 35 40 Quantity 12. In Exhibit 9, if the market price is $50 a. this market will be in equilibrium. b. a shortage of 27 units would result c. the price is below the equilibrium price. d. a surplus of 26 units would result. e. a surplus of 27 units would result 13. If the cost of fertilizer rises, then the price of corn will a. nse b. fall c. remain unchanged. d. react unpredictably. Exhibit 4 Supply and demand curves for computers Price per 3 computer (thousands of dollars) 2 0 10 20 30 40 Quantity of computers (hundreds per weck)

Explanation / Answer

12> e

The surplus amount will be 35-8=27

13> rise

Reason

Since fertilizer is an input for the production of corn, this will increase the total cost, so the supply curve will shift to the left.

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