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Question 47

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Use the following to answer questions below:
Use the following to answer questions below: -Refer to the competitive market graph. If market price is equal to $70, A) the market will be in equilibrium. B) there will be a shortage of 3 units. C) there will be a surplus of 3 units. D) None of the above is correct.
-Refer to the competitive market graph. If market price is equal to $70,


A) the market will be in equilibrium.
B) there will be a shortage of 3 units.
C) there will be a surplus of 3 units.
D) None of the above is correct.

Correct Answer:

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