-Refer to the Above Graph to Answer This Question

question 12

Multiple Choice

-Refer to the above graph to answer this question.What is true about the possible surpluses and shortages in this market if the price is $1,000 below equilibrium?

• A)There will be a shortage of 20.
• B)There will be a shortage of 40.
• C)There will be a surplus of 20.
• D)There will be a surplus of 40.
• E)Cannot be determined.

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Definitions:

Behaviour

Refers to the actions or reactions of an individual or group in response to external or internal stimuli.

Corporate Strategies

Strategic approaches and plans developed by a company to achieve its long-term objectives and maintain competitive advantage.

Competitive Position

A company's market standing in comparison to its competitors, typically gauged by its market share, profitability, and brand strength.

SWOT Analysis

SWOT Analysis is a strategic planning technique used to help identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.