Multiple Choice
Figure 3.2
-Figure 3.2 illustrates the supply and demand for t-shirts. If the actual price of t-shirts is $10, we would expect that
A) demand will decrease until quantity demanded equals quantity supplied.
B) supply will increase until quantity demanded equals quantity supplied.
C) price will increase until quantity demanded equals quantity supplied.
D) there will be no change since the market is in equilibrium.
Correct Answer:
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