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Figure 4-19 -Refer to Figure 4-19.If Price in This Market Is Currently

Question 56

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Figure 4-19 Figure 4-19 -Refer to Figure 4-19.If price in this market is currently $14,then there would be a(n) A) surplus of 20 units.The law of supply and demand predicts that the price will rise from $14 to a higher price. B) excess supply of 20 units.The law of supply and demand predicts that the price will fall from $14 to a lower price. C) surplus of 40 units.The law of supply and demand predicts that the price will rise from $14 to a higher price. D) excess supply of 40 units.The law of supply and demand predicts that the price will fall from $14 to a lower price.
-Refer to Figure 4-19.If price in this market is currently $14,then there would be a(n)


A) surplus of 20 units.The law of supply and demand predicts that the price will rise from $14 to a higher price.
B) excess supply of 20 units.The law of supply and demand predicts that the price will fall from $14 to a lower price.
C) surplus of 40 units.The law of supply and demand predicts that the price will rise from $14 to a higher price.
D) excess supply of 40 units.The law of supply and demand predicts that the price will fall from $14 to a lower price.

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