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Use the Figure Below to Answer the Following Questions

question 163

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Use the figure below to answer the following questions.
Use the figure below to answer the following questions.    Figure 3.4.1 -At price P<sub>3 </sub>in Figure 3.4.1, A) this market is in equilibrium. B) there is a tendency for the price to rise. C) equilibrium quantity is Q<sub>5</sub>. D) there is a shortage in the amount of Q<sub>5 </sub>- Q<sub>1</sub>. E) there is a surplus in the amount of Q<sub>5 </sub>- Q<sub>1</sub>. Figure 3.4.1
-At price P3 in Figure 3.4.1,


Definitions:

Continuing Business

An ongoing enterprise that maintains its operations over time, adapting to changes as necessary to remain viable.

Consent

Agreement or permission for something to happen, given by someone with full understanding of what is involved.

Modified

Changed or adjusted from the original form, purpose, or condition.

Third Party

An entity or individual that is involved indirectly or is outside the main two parties engaged in a transaction or legal matter.

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