(Figure: Chocolate) If the price in the diagram is $5, what will happen? Price per pound $16 14 12- 10 9 D 20 40 Supply 00 60 100 120 140 160 The price will decrease because of a shortage. O The price will decrease because of a surplus. O The price will increase because of a surplus. O The price will increase because of a shortage. Pounds of chocolate (thousands)

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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(Figure: Chocolate) If the price in the diagram is $5, what will happen?
Price
per pound
$16
14
12-
10
9
D
20
40
Supply
00 60 100 120 140 160
The price will decrease because of a shortage.
O The price will decrease because of a surplus.
O The price will increase because of a surplus.
O The price will increase because of a shortage.
Pounds of chocolate
(thousands)
Transcribed Image Text:(Figure: Chocolate) If the price in the diagram is $5, what will happen? Price per pound $16 14 12- 10 9 D 20 40 Supply 00 60 100 120 140 160 The price will decrease because of a shortage. O The price will decrease because of a surplus. O The price will increase because of a surplus. O The price will increase because of a shortage. Pounds of chocolate (thousands)
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