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spayn [35]
3 years ago
11

What would be the situation if the price was moved from p3 to p2?

Social Studies
1 answer:
FinnZ [79.3K]3 years ago
6 0

<u>The answer is C. There would be no supply of widgets leftover.</u>

<u>Where the supply and demand line meet on P2 is called the equilibrium.</u> This is because the amount of supplies that are given and the amount of goods demanded are equal. And when supply and demand are at an equilibrium, there isn't be a shortage (when demand > supply) nor a surplus (when supply > demand).

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