Exhibit 3-2 -If Price Is Below Equilibrium

question 72

Multiple Choice

Exhibit 3-2
-If price is below equilibrium,

• A)demand is too low for equilibrium.
• B)the income and substitution effects will cause the price to rise.
• C)quantity supplied exceeds quantity demanded, and a shortage exists.
• D)quantity demanded exceeds quantity supplied, and a shortage exists.
• E)demand will increase.

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Definitions:

Electron Microscope

A type of microscope that uses a beam of electrons to create an image of the specimen, allowing for much higher resolution than light microscopes.

Light Microscope

An optical instrument using visible light and lenses to magnify small objects, allowing for the observation of cellular structures.

Fluorescent

Exhibiting fluorescence; the ability to absorb light at one wavelength and emit it at a longer wavelength, producing a distinct glow.

Central Vacuoles

Large vesicles found in plant cells that store nutrients and waste products and contribute to cell growth by absorbing water and increasing in size.