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Use the Figure Below to Answer the Following Questions

Question 14

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 P₂ in Figure 3.4.1, which one of the following is not true? A) This market is in equilibrium. B) The quantity demanded is equal to the quantity supplied. C) The quantity demanded is Q₁. D) There is no surplus. E) The quantity supplied is Q₃.
Figure 3.4.1
-At price P₂ in Figure 3.4.1, which one of the following is not true?


A) This market is in equilibrium.
B) The quantity demanded is equal to the quantity supplied.
C) The quantity demanded is Q₁.
D) There is no surplus.
E) The quantity supplied is Q₃.

Correct Answer:

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