Use the following to answer questions:
Figure: Market Equilibrium
-(Figure: Market Equilibrium) Refer to the figure. At a price of $3, quantity supplied is ______ and quantity demanded is ______, leading to a _______.
A) 6; 2; surplus of 4 units
B) 2; 6; shortage of 8 units
C) 2; 4; surplus of 2 units
D) 4; 2; shortage of 2 units

Question

Use the following to answer questions:
Figure: Market Equilibrium 
-(Figure: Market Equilibrium) Refer to the figure. At a price of $3, quantity supplied is ______ and quantity demanded is ______, leading to a _______.
A) 6; 2; surplus of 4 units 
B) 2; 6; shortage of 8 units 
C) 2; 4; surplus of 2 units 
D) 4; 2; shortage of 2 units

Quizplus · Accepted Answer

The Answer is A

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