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Refer to Figure 29

Question 77

Multiple Choice

Refer to Figure 29.1. At a price of P<sub>1</sub> in Figure 29.1, there would be a A) Shortage measured by the distance Q<sub>1</sub> to Q<sub>5</sub>. B) Shortage measured by the distance Q<sub>1</sub> to Q<sub>3</sub>. C) Surplus measured by the distance Q<sub>1</sub> to Q<sub>5</sub>. D) Surplus measured by the distance Q<sub>2</sub> to Q<sub>4</sub>. Refer to Figure 29.1. At a price of P1 in Figure 29.1, there would be a


A) Shortage measured by the distance Q1 to Q5.
B) Shortage measured by the distance Q1 to Q3.
C) Surplus measured by the distance Q1 to Q5.
D) Surplus measured by the distance Q2 to Q4.

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