Multiple Choice
Refer to the table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5) . If the price were arti?cially set at $9,
A) the market would clear.
B) a surplus of 20 units would occur.
C) a shortage of 20 units would occur.
D) demand would change from columns (3) and (2) to columns (3) and (1) .
Correct Answer:
Verified
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