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Use the Following to Answer Questions: Table: Equilibrium Adjustment -(Table: Equilibrium Adjustment) Refer to the Table

Question 68

Multiple Choice

Use the following to answer questions: Table: Equilibrium Adjustment  Price  Quantity Demanded  Quantity Supplied $101001608120145613013041401152150100\begin{array} { c c c } \hline \text { Price } & \text { Quantity Demanded } & \text { Quantity Supplied } \\\hline \$ 10 & 100 & 160 \\8 & 120 & 145 \\6 & 130 & 130 \\4 & 140 & 115 \\2 & 150 & 100 \\\hline\end{array}
-(Table: Equilibrium Adjustment) Refer to the table. If the price in the free market is $2, then a:


A) surplus of 50 units would exist, and price would fall.
B) surplus of 50 units would exist, and price would rise.
C) shortage of 50 units would exist, and price would rise.
D) shortage of 50 units would exist, and price would fall.

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