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03-07-2021
Business

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Quantity demand is 385 and quantity supplied is 203 calculate the shortage

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PiaDeveau PiaDeveau

08-07-2021

Answer:

Shortage = 182 units

Explanation:

Given:

Quantity demanded = 385

Quantity supplied = 203

Find:

Shortage

Computation:

In economic terms, a shortage occurs when the amount sought exceeds the quantity available at the market price.

Shortage is difference between Quantity demanded and Quantity supplied.

Shortage = Quantity demanded - Quantity supplied

Shortage = 385 - 203

Shortage = 182 units

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