Exhibit 3-7 Demand and supply curves
-In Exhibit 3-7, if price happened to currently be $75 in this market, a _______ would result, causing a __________ in price.
A) shortage; increase
B) shortage; decrease
C) surplus; increase
D) surplus; decrease
E) market clearing; change
Correct Answer:
Verified
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Q261: Exhibit 3-8 Demand and supply data
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Q264: Exhibit 3-9 Demand and supply curves
Q265: Exhibit 3-10 Demand and supply curves
Q266: Which of the following is true about
Q267: Exhibit 3-10 Demand and supply curves
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