Multiple Choice
The above figure shows the market for t-shirts. If the price of t-shirts is $12, then
A) there is a shortage and the price of t-shirts will fall.
B) there is a surplus and the price of t-shirts will rise.
C) there is a surplus and the price of t-shirts will fall.
D) there is a shortage and the price of t-shirts will rise.
E) the market is in equilibrium.
Correct Answer:
Verified
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