Use the figure below to answer the following questions.
Figure 3.4.1
-At price P₃ in Figure 3.4.1,
A) this market is in equilibrium.
B) there is a shortage in the amount of Q₅ - Q₁.
C) there is a tendency for the price to rise.
D) equilibrium quantity is Q₅.
E) there is a surplus in the amount of Q₅ - Q₁.
Correct Answer:
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