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Use the Figure Below to Answer the Following Questions

Question 164

Multiple Choice

Use the figure below to answer the following questions. Use the figure below to answer the following questions. Figure 3.4.1 -At price P<sub>3</sub> in Figure 3.4.1, A) this market is in equilibrium. B) there is a shortage in the amount of Q<sub>5</sub> - Q<sub>1</sub>. C) there is a tendency for the price to rise. D) equilibrium quantity is Q<sub>5</sub>. E) there is a surplus in the amount of Q<sub>5</sub> - Q<sub>1</sub>. Figure 3.4.1
-At price P3 in Figure 3.4.1,


A) this market is in equilibrium.
B) there is a shortage in the amount of Q5 - Q1.
C) there is a tendency for the price to rise.
D) equilibrium quantity is Q5.
E) there is a surplus in the amount of Q5 - Q1.

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