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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 20
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.
Use Figure 2 to answer questions 25 and 26.
F igure 2
At a market price of $47, there is ______.
a) a shortage
b) a surplus
c) both a shortage and a surplus
d) neither a shortage nor a surplus
Circle the letter that corresponds to the best answer.
Use Figure 2 to answer questions 25 and 26.
F igure 2
At a market price of $47, there is ______.
a) a shortage
b) a surplus
c) both a shortage and a surplus
d) neither a shortage nor a surplus
Explanation
Verified
Verified
Quantity demanded refers to the amount o...
Macroeconomics 11th Edition by Stephen Slavin
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