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Suppose Roses Are Currently Selling for $40

Question 193

Multiple Choice

Suppose roses are currently selling for $40.00 per dozen,while the equilibrium price of roses is $30.00 per dozen.We would expect a


A) shortage to exist and the market price of roses to increase.
B) shortage to exist and the market price of roses to decrease.
C) surplus to exist and the market price of roses to increase.
D) surplus to exist and the market price of roses to decrease.

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