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Suppose Roses Are Currently Selling for $40

Question 33

Multiple Choice

Suppose roses are currently selling for $40.00 per dozen. The equilibrium price of roses is $30.00 per dozen. What would we expect?


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

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