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Use the Figure Below to Answer the Following Questions

Question 99

Multiple Choice

Use the figure below to answer the following questions.
Use the figure below to answer the following questions. Figure 3.4.1 -At price P<sub>1 </sub>in Figure 3.4.1 A) there is a shortage in the amount of Q<sub>4 </sub>- Q<sub>2</sub>. B) there is a tendency for the price to fall. C) the equilibrium quantity is Q<sub>4</sub>. D) the equilibrium quantity is Q<sub>2</sub>. E) there is a surplus in the amount of Q<sub>4 </sub>- Q<sub>2</sub>. Figure 3.4.1
-At price P1 in Figure 3.4.1


A) there is a shortage in the amount of Q4 - Q2.
B) there is a tendency for the price to fall.
C) the equilibrium quantity is Q4.
D) the equilibrium quantity is Q2.
E) there is a surplus in the amount of Q4 - Q2.

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