Answered: According to the figure, if the price…

According to the figure, if the price is $4, there is a: O surplus of 375 units, and the price will fall. O shortage of 375 units, and the price will rise.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 18RQ: If the price is above line equilibrium level, would you predict a surplus or a shortage? If line...

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