Use the Figure Below to Answer the Following Questions

question 163

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

---

Definitions:

Subjective Well-Being

An individual's self-assessment of their happiness and satisfaction with life.

Happiness

A state of well-being characterized by emotions ranging from contentment to intense joy.

Life Satisfaction

The degree to which an individual feels positively about the quality and circumstances of their life.

Ethnic Identity

A person's sense of belonging to an ethnic group, including the personal significance and meaning of this group membership to their identity.