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-The Figure Above Illustrates the Bagel Market

Question 13

Multiple Choice

-The figure above illustrates the bagel market.Which of the following statements is correct? A) With a price ceiling of $1.00 per bagel, the quantity demanded is equal to the quantity supplied. B) With a price ceiling of $3.00 per bagel, the quantity demanded is greater than the quantity supplied. C) With a price ceiling of $1.00 per bagel, there is a shortage of bagels. D) Answers A and B are correct. E) Answers B and C are correct.
-The figure above illustrates the bagel market.Which of the following statements is correct?


A) With a price ceiling of $1.00 per bagel, the quantity demanded is equal to the quantity supplied.
B) With a price ceiling of $3.00 per bagel, the quantity demanded is greater than the quantity supplied.
C) With a price ceiling of $1.00 per bagel, there is a shortage of bagels.
D) Answers A and B are correct.
E) Answers B and C are correct.

Correct Answer:

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