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Exhibit 5-1 -Refer to Exhibit 5-1, Which Shows Supply and Demand for Supply

Question 64

Multiple Choice

Exhibit 5-1
Exhibit 5-1 -Refer to Exhibit 5-1, which shows supply and demand for freeway space at both 8 a.m. and 11 p.m. A toll of P<sub>1</sub> creates __________ at 8 a.m. and __________ at 11 p.m. A) a shortage; a surplus B) a surplus; a shortage C) equilibrium; a surplus D) a shortage; equilibrium
-Refer to Exhibit 5-1, which shows supply and demand for freeway space at both 8 a.m. and 11 p.m. A toll of P1 creates __________ at 8 a.m. and __________ at 11 p.m.


A) a shortage; a surplus
B) a surplus; a shortage
C) equilibrium; a surplus
D) a shortage; equilibrium

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