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Exhibit 3-7 Demand and Supply Curves in Exhibit 3-7

Question 277

Multiple Choice

Exhibit 3-7 Demand and supply curves Exhibit 3-7 Demand and supply curves In Exhibit 3-7, if price happened to currently be $25 in this market, a ____ would result, causing a(n) ____ in price. A) shortage; increase B) shortage; decrease C) surplus; increase D) surplus; decrease E) scarcity; stabilization In Exhibit 3-7, if price happened to currently be $25 in this market, a ____ would result, causing a(n) ____ in price.


A) shortage; increase
B) shortage; decrease
C) surplus; increase
D) surplus; decrease
E) scarcity; stabilization

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