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Figure 2.1 -Consider the Market Described by the Demand and Supply Curves

Question 112

Multiple Choice
Figure 2.1 -Consider the market described by the demand and supply curves in Figure 2.1. Which of the following is true if the current market price is $40 per unit?

Figure 2.1
Figure 2.1 -Consider the market described by the demand and supply curves in Figure 2.1. Which of the following is true if the current market price is $40 per unit? A) The quantity demanded is 400 units. B) There is a shortage of 200 units. C) The quantity sold is 200 units. D) The quantity supplied is 200 units. E) There is an excess demand of 200 units.
-Consider the market described by the demand and supply curves in Figure 2.1. Which of the following is true if the current market price is $40 per unit?


A) The quantity demanded is 400 units.
B) There is a shortage of 200 units.
C) The quantity sold is 200 units.
D) The quantity supplied is 200 units.
E) There is an excess demand of 200 units.

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