Multiple Choice
-Refer to the information above to answer this question.All of the following statements except one are correct.Which is the exception?
A) The equilibrium price and quantity are $9 and 60.
B) At a price of $7,there is a surplus of 40.
C) At a price of $10,there is a surplus of 20.
D) At a price of $8,there is a shortage of 20.
Correct Answer:

Verified
Correct Answer:
Verified
Q42: What is the effect of a rise
Q43: Define each of the following: a)elastic demand
Q44: If people spend a large percentage of
Q45: The list below refers to the price
Q46: What will happen to the quantity demanded
Q48: Below are some data on price,income and
Q49: What is the formula used to calculate
Q50: The table below gives data for a
Q51: A local transit authority has just applied
Q52: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5692/.jpg" alt=" -Refer to the