Question

Use the following to answer questions 
Figure: Basic Supply and Demand 
-(Figure: Basic Supply and Demand) In the diagram,which of the following statements is TRUE?

Accepted Answer

A)   When the price is $3,the quantity demanded exceeds the quantity supplied by 60 units.
B)   When the price is $2,the quantity demanded exceeds the quantity supplied by 40 units.
C)   When the price is $4,the quantity demanded is less than the quantity supplied by 40 units.
D)   When the price is $2,there is a tendency for the price to rise in the future.E) A) and B)
F) A) and C)

Exam 4: Equilibrium- How Supply and Demand

Use the following to answer questions Figure: Basic Supply and Demand -(Figure: Basic Supply and Demand) In the diagram,which of the following statements is TRUE?

Correct Answer
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Exam 4: Equilibrium- How Supply and Demand

Use the following to answer questions Figure: Basic Supply and Demand -(Figure: Basic Supply and Demand) In the diagram,which of the following statements is TRUE?

Correct AnswerverifiedShow Answer

Correct Answer
verified