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Figure 4-21 -At Price P₁ in Figure 4-21, What Will Tend to What

Question 244

Multiple Choice

Figure 4-21
Figure 4-21 -At price P₁ in Figure 4-21, what will tend to happen? A) There will be a shortage, and the price will fall. B) There will be a shortage, and the price will rise. C) There will be a surplus, and the price will rise. D) There will be a surplus, and the price will fall. E) Equilibrium will occur in the market.
-At price P₁ in Figure 4-21, what will tend to happen?

A) There will be a shortage, and the price will fall.
B) There will be a shortage, and the price will rise.
C) There will be a surplus, and the price will rise.
D) There will be a surplus, and the price will fall.
E) Equilibrium will occur in the market.

Correct Answer: