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Figure 4-7 -Refer to Figure 4-7.At a Price of $35

Question 195

Multiple Choice

Figure 4-7
Figure 4-7 -Refer to Figure 4-7.At a price of $35, A) a shortage would exist and the price would tend to fall from $35 to a lower price. B) a surplus would exist and the price would tend to rise from $35 to a higher price. C) a surplus would exist and the price would tend to fall from $35 to a lower price. D) an excess demand would exist and the price would tend to fall from $35 to a lower price.
-Refer to Figure 4-7.At a price of $35,

A) a shortage would exist and the price would tend to fall from $35 to a lower price.
B) a surplus would exist and the price would tend to rise from $35 to a higher price.
C) a surplus would exist and the price would tend to fall from $35 to a lower price.
D) an excess demand would exist and the price would tend to fall from $35 to a lower price.

Correct Answer: