Multiple Choice
At price P 3 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.
Correct Answer:

Verified
Correct Answer:
Verified
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