Suppose that when good X is free, buyers will demand 200 units of it, but the quantity demanded falls by 5 units for every 2 increase in the price. If the price is 30 and the quantity supplied is 125 units, What is the state of this market?
1) There is a shortage of 45 units.
2) There is a surplus of 45 units in this market.
3) This market is in equiLiBrium.
4) There is a shortage of 75 units in this market.