Multiple Choice
(Table: Equilibrium Adjustment) Refer to the table. If the pricein the free market is $8, then a:
A) surplus of 25 units would exist and price would tend to fall.
B) surplus of 25 units would exist and price would tend to rise.
C) shortage of 25 units would exist and price would tend to rise.
D) shortage of 25 units would exist and price would tend to fall.
Correct Answer:
Verified
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