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Refer to the Above Diagram

Question 42

Multiple Choice

Refer to the above diagram.If the equilibrium price level is P<sub>1</sub>, then: A) aggregate demand is AD<sub>2</sub>. B) the equilibrium output level is Q<sub>3</sub>. C) the equilibrium output level is Q<sub>2</sub>. D) producers will supply output level Q<sub>1</sub>. Refer to the above diagram.If the equilibrium price level is P1, then:


A) aggregate demand is AD2.
B) the equilibrium output level is Q3.
C) the equilibrium output level is Q2.
D) producers will supply output level Q1.

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