Use the following demand and supply functions: Demand:Qd = 50 - 4PSupply:Qs = 20 + 2PIf the price is $10, there is a
A. surplus of 40 units.
B. shortage of 30 units.
C. shortage of 10 units.
D. surplus of 30 units.
E. none of the above
Answer: D
Economics
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Pete the Pizza Man produced $87,000 worth of pizzas in the past year. He paid $39,000 to employees, paid $11,000 for vegetables and other ingredients, and paid $5000 in taxes
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