Multiple Choice
Refer to the above diagram,which shows demand and supply conditions in the competitive market for product X.If supply is S1 and demand D0,then:
A) at any price above 0G a shortage would occur.
B) 0F represents a price that would result in a surplus of AC.
C) a surplus of GH would occur.
D) 0F represents a price that would result in a shortage of AC.
Correct Answer:
Verified
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