If a Supply Curve Goes Through the Point P = $Q _ { 5 }$

question 18

Multiple Choice

If a supply curve goes through the point P = $10 and $Q _ { 5 }$ = 320,then

• A)$10 is the highest price that will induce firms to supply 320 units.
• B)$10 is the lowest price that will induce firms to supply 320 units.
• C)at a price higher than $10 there will be a surplus.
• D)at a price lower than $10 there will be a shortage.
• E)both c and d

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