Exhibit 3-1 -Consider the Market Represented by the Schedule in Exhibit 3-1

question 122

Multiple Choice

Exhibit 3-1
-Consider the market represented by the schedule in Exhibit 3-1. At a price of $2 per unit,

• A)the quantity purchased is 1,000 units.
• B)there will be a tendency for the price to decrease.
• C)there is a surplus of 300 units.
• D)the quantity sold is 350 units.
• E)the quantity purchased equals the quantity sold.

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Definitions:

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