Question 1
A local milk store orders 300 half-litre bottles of milk and 100 loaves of bread each week. The store sells a bottle of milk for Rs. 20 and a loaf of bread for Rs 23. At the end of the first week, the store has sold 160 bottles of milk, while the loaves were sold out by mid-week which left customers leaving unhappy. With this information, answer the given subquestions.
What economic situation is the store facing? Select all that apply.
Surplus of milk
Shortage of milk
Equilibrium of milk
Surplus of bread
Shortage of bread
Equilibrium of bread
Surplus of milk and bread
Shortage of milk and bread
Equilibrium of milk and bread