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Refer to the Diagram, Which Shows Demand and Supply Conditions

Question 123

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Refer to the diagram, which shows demand and supply conditions in the competitive market for product X. If supply is S1 and demand D0, then A) at any price above G a shortage would occur. B) F represents a price that would result in a surplus of AC. C) a surplus of GH would occur. D) F represents a price that would result in a shortage of AC. Refer to the diagram, which shows demand and supply conditions in the competitive market for product X. If supply is S1 and demand D0, then


A) at any price above G a shortage would occur.
B) F represents a price that would result in a surplus of AC.
C) a surplus of GH would occur.
D) F represents a price that would result in a shortage of AC.

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