-In the Graph Shown Above at a Price of $4

question 209

Multiple Choice

-In the graph shown above at a price of $4.50

• A)there is a shortage.
• B)there is a surplus.
• C)there is a both a shortage and a surplus.
• D)there is neither a shortage nor a surplus.

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Definitions:

Stock Variable

A measure of something at a particular point in time, such as the amount of money you have with you right now.

Periodic Variable

A variable that changes at regular intervals over time, often used in the analysis of time series data.

Measured

Evaluated or quantified in terms of extent, dimensions, quantity, or capacity.

Flow Variable

A variable that is measured over a specific period of time, such as income or expenditure, which may change from one period to the next.