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Business, 17.02.2022 04:00 loroloco71

In a given market, the market equilibrium price and quantity are $120 and 5 million units, respectively. At a price of $100, 4.8 million units are supplied, and 5.2 million units are demanded. It can be said that at a price level of $100 there is a .(1 point) a shortage of 0.2 million units

a surplus of 0.4 million units

a shortage of 0.4 million units

a surplus of 0.2 million units

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