In a given market, the market equilibrium price and quantity are $120 and 5 million units, respectively. At a price of $100, 4.8 million units are supplied, and 5.2 million units are demanded. It can be said that at a price level of $100 there is a _____.(1 point)
Responses
a surplus of 0.2 million units
a surplus of 0.2 million units
a surplus of 0.4 million units
a surplus of 0.4 million units
a shortage of 0.4 million units
a shortage of 0.4 million units
a shortage of 0.2 million units