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Question 193

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Use the following to answer questions:
Figure: Market Equilibrium Use the following to answer questions: Figure: Market Equilibrium -(Figure: Market Equilibrium) Refer to the figure. At a price of $1, the market is characterized by a(n) : A) excess supply of 2 units. B) excess demand of 4 units. C) surplus of 4 units. D) shortage of 6 units.
-(Figure: Market Equilibrium) Refer to the figure. At a price of $1, the market is characterized by a(n) :


A) excess supply of 2 units.
B) excess demand of 4 units.
C) surplus of 4 units.
D) shortage of 6 units.

Correct Answer:

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