At the market price of $8, the quantity demanded is nothing units, and quantity supplied is nothing units. At this price, ▼ a surplus a shortage an equilibrium exists. At a market price of $4, ▼ an equilibrium a surplus a shortage now exists. The market equilibrium exists at a price of $ nothing. In equilibrium, the quantity demanded by consumers is ▼ greater than equal to less than to the quantity supplied by producers.

Economic Surplus is a is a situation in which the quantity supplied is higher than the quantity demanded. This situation is also referred to as excess supply.

(3) At price $4 there is an exist shortage

At price $4 The quantity Supplied is 20 units and the Quantity Demanded is 60 units respectively. hence, at price $4 Demand is higher/greater than Supply.

(4) At a price of $6 per unit, the market equilibrium exists

Market equilibrium is a situation when the Quantity Demanded of a commodity by the consumer is the same to the respective Quantity Supplied of that commodity by the producers.

(5) )Quantity Demanded by the consumers is equal to the quantity supplied by the producers. In the equilibrium

At price $4 per unit , the quantity supplied by the producers is equal to 40 units and the quantity demanded by the consumers is equal to 40 units Thus the supplied quantity is equal to the demanded quantity this point.