Figure 4-3 -Refer to the Figure 4-3.If the Price in This Market

question 12

Multiple Choice

Figure 4-3

-Refer to the Figure 4-3.If the price in this market is currently $14,what would happen?

• A)There would be a shortage of 20 units and the price would tend to rise.
• B)There would be a surplus of 20 units and the price would tend to fall.
• C)There would be a shortage of 40 units and the price would tend to rise.
• D)There would be a surplus of 40 units and the price would tend to fall.

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Definitions:

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