2) The diagram below represents the market for battery packs. If the price were currently at $28/pack there would be a: Group of answer choices surplus of 4 battery packs surplus of 20 battery packs shortage of 4 battery packs shortage of of 20 battery packs

Q: Complete the following table by selecting the term that matches each definition. Definition The…

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Normal and Inferior Goods

Understanding a normal good and an inferior good is important because it tells us what will happen to demand different products during booms and recessions.