Exhibit 4-4 Refer to Exhibit 4-4. Which of the Following Is False

question 117

Multiple Choice

Exhibit 4-4
Refer to Exhibit 4-4. Which of the following is false ?

• A)Graph (1): There would be a shortage of the good if a price floor is set at P₃.
• B)Graph (2): As supply increases, equilibrium quantity remains constant.
• C)Graph (3): As demand increases, equilibrium price remains constant.
• D)Graph (4): As supply changes, equilibrium price stays the same.

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