-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:

U.S. Supreme Court

The highest court in the United States, with ultimate appellate jurisdiction over all federal and state court cases that involve a point of constitutional or federal law.

Court of Last Resort

The highest court in a jurisdiction from which there is no appeal, often referred to as a supreme court.

State Law

Regulations and statutes enacted by the legislative bodies of individual states, different from federal laws.

Trial Court

The first level of court in the judicial system where cases are heard, evidence is presented, and judgments or verdicts are initially made.