-Refer to Figure 2

question 25

Multiple Choice

-Refer to Figure 2.3.At a price of $10 per CD,there would be

• A) Excess supply of 70 thousand CDs
• B) Excess demand of 50 thousand CDs
• C) Excess supply of 50 thousand CDs
• D) Excess demand of 70 thousand CDs

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Definitions:

Voting

The act of making a choice or expressing an opinion in an election or other formal decision-making process.

University of Michigan

A public research university located in Ann Arbor, Michigan, known for its contribution to research, education, and athletics.

Affirmative Action

Policies or measures that aim to increase opportunities for underrepresented groups in areas such as employment and education by considering those groups' characteristics in decision making.

Supreme Court

The highest judicial body in the United States, which has ultimate appellate jurisdiction over all federal and state court cases involving issues of federal law.