Figure 4-21

-At price P₁ in Figure 4-21, what will tend to happen?
A)There will be a shortage, and the price will fall.
B)There will be a shortage, and the price will rise.
C)There will be a surplus, and the price will rise.
D)There will be a surplus, and the price will fall.
E)Equilibrium will occur in the market.

Question

Figure 4-21
 
-At price P₁ in Figure 4-21, what will tend to happen?
A)There will be a shortage, and the price will fall. 
B)There will be a shortage, and the price will rise. 
C)There will be a surplus, and the price will rise. 
D)There will be a surplus, and the price will fall. 
E)Equilibrium will occur in the market.

Quizplus · Accepted Answer

The Answer of Figure 4-21
 
-At price P₁ in Figure 4-21, what will tend to happen?
A)There will be a shortage, and the price will fall. 
B)There will be a shortage, and the price will rise. 
C)There will be a surplus, and the price will rise. 
D)There will be a surplus, and the price will fall. 
E)Equilibrium will occur in the market.

Figure 4-21 -At Price P₁ in Figure 4-21, What Will Tend to What