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At Price P 1 in Figure 4-21, What

Question 89

Multiple Choice

At price P <sub> 1 </sub> in Figure 4-21, what will tend to happen? A) There will be a shortage, and the price will fall. B) There will be a shortage, and the price will rise. C) There will be a surplus, and the price will rise. D) There will be a surplus, and the price will fall. E) Equilibrium will occur in the market.
At price P 1 in Figure 4-21, what will tend to happen?


A) There will be a shortage, and the price will fall.
B) There will be a shortage, and the price will rise.
C) There will be a surplus, and the price will rise.
D) There will be a surplus, and the price will fall.
E) Equilibrium will occur in the market.

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