Complete the problem by using the accompanying figure, which shows a supply function and a demand function. (Assume price is measured in dollars.)Match the question with the correct answer. Is there a surplus or shortage when the price is $38? a. 56 units If the price is $38, what quantity is demanded? b. 4 units How many units is the surplus or shortage? c. 52 units If the price is $38 what quantity is supplied? d. surplus

Without the accompanying figure, it's impossible to accurately answer these questions. However, I can explain how you would generally approach this problem:

1. Is there a surplus or shortage when the price is $38? To answer this, you would need to compare the quantity demanded and the quantity supplied at a price of$38. If the quantity supplied is greater than the quantity demanded, there is a surplus. If the quantity demanded is greater than the quantity supplied, there is a shortage.

2. If the price is $38, what quantity is demanded? To find this, you would need to look at the demand function at a price of$38.

3. How many units is the surplus or shortage? The surplus or shortage is the difference between the quantity supplied and the quantity demanded. If there is a surplus, subtract the quantity demanded from the quantity supplied. If there is a shortage, subtract the quantity supplied from the quantity demanded.

4. If the price is $38 what quantity is supplied? To find this, you would need to look at the supply function at a price of$38.

Without the specific supply and demand functions or the accompanying figure, it's impossible to give specific answers to these questions.