Multiple Choice
(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
Correct Answer:
Verified
Related Questions
Q3: Suppose that the equilibrium price in the
Q9: Suppose that a market is characterized as
Q10: If sellers want to sell more products