Macroeconomics 11th Edition by Stephen Slavin

تمرين 7

Before you get started, you'll find it's much easier to answer many of these questions by first sketching a graph of a supply and demand curve. In fact, that graph will help you answer the first four questions.
Circle the letter that corresponds to the best answer.
In Figure 1, if market price were $110, there would be ______.
a) a shortage
b) a surplus
c) neither a shortage nor a surplus
F igure 1