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Reference: Ref 4-2 (Figure: Market Equilibrium) Refer to the Figure

Question 15

Multiple Choice

  Reference: Ref 4-2 (Figure: Market Equilibrium)  Refer to the figure. At a price of $3, quantity supplied is ______ and quantity demanded is ______, leading to a _______. A)  6; 2; surplus of 4 units B)  2; 6; shortage of 8 units C)  2; 4; surplus of 2 units D)  4; 2; shortage of 2 units Reference: Ref 4-2 (Figure: Market Equilibrium) Refer to the figure. At a price of $3, quantity supplied is ______ and quantity demanded is ______, leading to a _______.


A) 6; 2; surplus of 4 units
B) 2; 6; shortage of 8 units
C) 2; 4; surplus of 2 units
D) 4; 2; shortage of 2 units

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