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$2.00 D $1.50 $1.00 20 27 28 30 35 Millions of Gallons of Milk Per Week Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be O a surplus of 10 million gallons. O a shortage of 27 million gallons. O a shortage of 8 million gallons. O a surplus of 30 million gallons. Price (per gallon)

$2.00 D $1.50 $1.00 20 27 28 30 35 Millions of Gallons of Milk Per Week Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be O a surplus of 10 million gallons. O a shortage of 27 million gallons. O a shortage of 8 million gallons. O a surplus of 30 million gallons. Price (per gallon)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Refer to the above diagram for the milk market, If the price were $1.00 per gallon, then there would be

$2.00 - $1.50- $1.00- 35 27 28 30 Millions of Gallons of Milk Per Week 20 Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be O a surplus of 10 million gallons. O a shortage of 27 million gallons. O a shortage of 8 million gallons. a surplus of 30 million gallons. Price (per gallon) 洋
Transcribed Image Text:$2.00 - $1.50- $1.00- 35 27 28 30 Millions of Gallons of Milk Per Week 20 Refer to the above diagram for the milk market. If the price were $1.00 per gallon, then there would be O a surplus of 10 million gallons. O a shortage of 27 million gallons. O a shortage of 8 million gallons. a surplus of 30 million gallons. Price (per gallon) 洋
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