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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 15
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 $140, there would be _____.
a) a shortage
b) a surplus
c) neither a shortage nor a surplus
F igure 1
Circle the letter that corresponds to the best answer.
In Figure 1, if market price were $140, there would be _____.
a) a shortage
b) a surplus
c) neither a shortage nor a surplus
F igure 1
Explanation
Verified
Verified
Quantity demanded refers to the amount o...
Macroeconomics 11th Edition by Stephen Slavin
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