Solved

The Diagram Below Represents the Market for Butter

Question 71

Multiple Choice

The diagram below represents the market for butter.
FIGURE 4-1
The diagram below represents the market for butter. FIGURE 4-1 -Refer to Figure 4-1. What is the shortage or surplus that exists at a market price of $4? A) a shortage exists equal to 4000 kilograms of butter B) a surplus equal to 4000 kilograms of butter C) a surplus equal to 7000 kilograms of butter D) a shortage equal to 7000 kilograms of butter
-Refer to Figure 4-1. What is the shortage or surplus that exists at a market price of $4?


A) a shortage exists equal to 4000 kilograms of butter
B) a surplus equal to 4000 kilograms of butter
C) a surplus equal to 7000 kilograms of butter
D) a shortage equal to 7000 kilograms of butter

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q66: A major grocery store chain switches from

Q67: TABLE 4-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5767/.jpg" alt="TABLE 4-5

Q68: Ceteris paribus, if the market demand for

Q69: Which of the following statements describes equilibrium

Q70: If both the supply and demand curves

Q72: A March 2009 article in the Zimbabwe

Q73: If the market for peaches is in

Q74: A surplus exists in the market for

Q75: If Canadian consumers decided to boycott grapes

Q76: What could explain an increase in the