5. Consumer and Producer Surplus; Price Ceilings and Floors

5. Consumer and Producer Surplus; Price Ceilings and Floors / Quantitative Analysis of Price Ceilings and Price Floors: Finding Points / Problem 13

Problem 13

If the quantity demanded is 1500 units and the quantity supplied is 1000 units, what is the shortage?

1500 units

2000 units

500 units

1000 units