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Use the Figure Below to Answer the Following Questions

Question 9

Multiple Choice

Use the figure below to answer the following questions.
Use the figure below to answer the following questions. Figure 3.4.1 -At price P₃ in Figure 3.4.1, A) this market is in equilibrium. B) there is a shortage in the amount of Q5 - Q₁. C) there is a tendency for the price to rise. D) equilibrium quantity is Q5. E) there is a surplus in the amount of Q5 - Q₁.
Figure 3.4.1
-At price P₃ in Figure 3.4.1,


A) this market is in equilibrium.
B) there is a shortage in the amount of Q5 - Q₁.
C) there is a tendency for the price to rise.
D) equilibrium quantity is Q5.
E) there is a surplus in the amount of Q5 - Q₁.

Correct Answer:

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