The Following Questions Refer to the graph below. -At price P₁ there is a A)Surplus of X₁X₂ B)Shortage of X₁X₂ C)Surplus of XX₂ D)Surplus of AB E)Shortage of X₁X

Name: The Following Questions Refer to the graph below. -At price P 1 there is a A)Surplus of X 1 X 2 B)Shortage of X 1 X 2 C)Surplus of XX 2 D)Surplus of AB E)Shortage of X 1 X
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Question

Quizplus · Accepted Answer

At price P₁, the quantity supplied is greater than the quantity demanded, resulting in a surplus.

The Following Questions Refer to the Graph Below