Use the Figure Below to Answer the Following Questions

question 14

Multiple Choice

Use the figure below to answer the following questions.

Figure 3.4.1
-At price P₂ in Figure 3.4.1, which one of the following is not true?

• A)This market is in equilibrium.
• B)The quantity demanded is equal to the quantity supplied.
• C)The quantity demanded is Q₁.
• D)There is no surplus.
• E)The quantity supplied is Q₃.

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Definitions:

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