Figure 3-4 -Refer to Figure 3-4.If the Price Is $25

question 2

Multiple Choice

Figure 3-4
-Refer to Figure 3-4.If the price is $25

• A)there is a surplus of 300 units.
• B)there is a shortage of 300 units.
• C)there is a surplus of 200 units.
• D)there is a shortage of 200 units.

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Definitions:

Ad Valorem

A term describing taxes or duties calculated as a percentage of the value of goods or property.