Exhibit 5-1 
Refer to Exhibit 5-1, which shows supply and demand for freeway space at both 8 a.m. and 11 p.m. At P = $0, there is a ________ of freeway space at 8 a.m. and ________ at 11 p.m.
A) shortage; a surplus
B) surplus; a shortage
C) surplus; equilibrium
D) shortage; equilibrium
Correct Answer:
Verified
Q33: Exhibit 5-1 Q33: A toll of $1 per car is Q34: Exhibit 5-1 Q35: The demand for seats in 10 a.m. Q36: Exhibit 5-1 Q37: When congestion occurs on the freeway (because Q39: If more people join carpools and travel Q39: Residents of cities with a reputation for Q41: There is no toll charge to drive Q43: Exhibit 5-5 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
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