Question: The table below shows the price, market demand, market supply, and the surplus and shortage for a firm providing a product under perfect competition. Study the information in the table, and then answer the questions below.
![654_MD.png](https://secure.tutorsglobe.com/CMSImages/654_MD.png)
a. Some of the information is missing from the table. Calculate the correct information.
b. What is the equilibrium price? How can you tell?
c. What price(s) will produce a surplus?
d. What price(s) will produce a shortage?