-In the graph shown above at a price of $4.50
A) there is a shortage.
B) there is a surplus.
C) there is a both a shortage and a surplus.
D) there is neither a shortage nor a surplus.
Correct Answer:
Verified
Q4: A demand schedule can be presented
A)only as
Q5: If market price is equal to equilibrium
Q6: At equilibrium,each of these is true except
A)quantity
Q7: As price declines,quantity demanded goes _ and
Q8: When the market price is lower than
Q10: If supply increases and demand remains unchanged,equilibrium
Q11: A decrease in demand means that quantity
Q12: An increase in supply means that quantity
Q13: When the market price is higher than
Q14: If the equilibrium price of corn is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents