Use the Following to Answer Questions

question 248

Multiple Choice

Use the following to answer questions:
Figure: Basic Supply and Demand
-(Figure: Basic Supply and Demand) In the diagram, which of the following statements is TRUE?

• A) When the price is $3, the quantity demanded exceeds the quantity supplied by 60 units.
• B) When the price is $2, the quantity demanded exceeds the quantity supplied by 40 units.
• C) When the price is $4, the quantity demanded is less than the quantity supplied by 40 units.
• D) When the price is $2, there is a tendency for the price to rise in the future.

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Definitions:

Add New

A command or button in software applications used to create a new entity, like a document, database record, or item in a list.

New (Blank)

A state or condition of being empty or untouched, starting from the beginning, often referring to a document or file with no content.

Last

Pertains to the final position or element in a sequence or collection.

Insert (New)

The action of adding new data or objects such as text, images, or shapes into a document or file.