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-If the Amount Demanded and Supplied in the Market Were

Question 109

Multiple Choice

-If the amount demanded and supplied in the market were shown by the curves D and S: A) the market price would rise if it were below P<sub>A</sub>. B) the market would be in equilibrium at a price of P<sub>A</sub>. C) there would be a surplus at a price of P<sub>B</sub> shown by the distance between Q<sub>1 </sub>and Q<sub>3</sub> units. D) all of the above.
-If the amount demanded and supplied in the market were shown by the curves D and S:


A) the market price would rise if it were below PA.
B) the market would be in equilibrium at a price of PA.
C) there would be a surplus at a price of PB shown by the distance between Q1 and Q3 units.
D) all of the above.

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