Use the Figure Below to Answer the Following Questions

question 164

Multiple Choice

Use the figure below to answer the following questions. Figure 3.4.1
-At price P₃ in Figure 3.4.1,

• A)this market is in equilibrium.
• B)there is a shortage in the amount of Q₅ - Q₁.
• C)there is a tendency for the price to rise.
• D)equilibrium quantity is Q₅.
• E)there is a surplus in the amount of Q₅ - Q₁.

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