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Figure 4-8 -Refer to Figure 4-8.At a Price of $20

Question 367

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Figure 4-8 Figure 4-8 -Refer to Figure 4-8.At a price of $20, A) there would be a shortage and the law of supply and demand predicts that the price will fall from $20 to a lower price. B) there would be a surplus and the law of supply and demand predicts that the price will rise from $20 to a higher price. C) there would be an excess demand and the law of supply and demand predicts that the price will rise from $20 to a higher price. D) there would be an excess supply and the law of supply and demand predicts that the price will fall from $20 to a lower price.
-Refer to Figure 4-8.At a price of $20,


A) there would be a shortage and the law of supply and demand predicts that the price will fall from $20 to a lower price.
B) there would be a surplus and the law of supply and demand predicts that the price will rise from $20 to a higher price.
C) there would be an excess demand and the law of supply and demand predicts that the price will rise from $20 to a higher price.
D) there would be an excess supply and the law of supply and demand predicts that the price will fall from $20 to a lower price.

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