the quantity demanded of a good is 19. there is a surplus of 12 units on the market. please find the…

the quantity demanded of a good is 19. there is a surplus of 12 units on the market. please find the quantity supplied on the market. hints/example question 19 1 pts the quantity demanded of a good is 28. there is a shortage of 3 units on the market. please find the quantity supplied on the market. hints/example

the quantity demanded of a good is 19. there is a surplus of 12 units on the market. please find the quantity supplied on the market. hints/example question 19 1 pts the quantity demanded of a good is 28. there is a shortage of 3 units on the market. please find the quantity supplied on the market. hints/example

Answer

Explanation:

Step1: Recall surplus formula

Surplus = Quantity Supplied - Quantity Demanded. So, Quantity Supplied = Surplus + Quantity Demanded.

Step2: Calculate quantity supplied for first - case

Given Quantity Demanded = 19 and Surplus = 12. Quantity Supplied = 12 + 19 = 31.

Step3: Recall shortage formula

Shortage = Quantity Demanded - Quantity Supplied. So, Quantity Supplied = Quantity Demanded - Shortage.

Step4: Calculate quantity supplied for second - case

Given Quantity Demanded = 28 and Shortage = 3. Quantity Supplied = 28 - 3 = 25.

Answer:

For the first question: 31 For the second question: 25