P₁ P₂ P3 D Q₁ B D Q₂ Q3 Quantity At price P₁ you at price P2 you and at price P3 you a. will have no trouble buying tennis balls; will find all the tennis balls you wish to buy; may not find any tennis balls to buy b. may not find any tennis balls to buy; will find all the tennis balls you wish to buy; will have no trouble buying tennis balls e. will find all the tennis balls you wish to buy; may not find any tennis balls to buy; will have no trouble buying tennis balls d. will have no trouble buying tennis balls; may not find any tennis balls to buy; will find all the tennis balls you wish to buy
P₁ P₂ P3 D Q₁ B D Q₂ Q3 Quantity At price P₁ you at price P2 you and at price P3 you a. will have no trouble buying tennis balls; will find all the tennis balls you wish to buy; may not find any tennis balls to buy b. may not find any tennis balls to buy; will find all the tennis balls you wish to buy; will have no trouble buying tennis balls e. will find all the tennis balls you wish to buy; may not find any tennis balls to buy; will have no trouble buying tennis balls d. will have no trouble buying tennis balls; may not find any tennis balls to buy; will find all the tennis balls you wish to buy
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question

Transcribed Image Text:27. (Figure: Supply and Demand in the Market) The graph shows the market demand and supply
curves for tennis balls, and you are an avid tennis player.
Price
P1
P₂
P3
A
D
Q₁
C
B
E:
D
Q₂ Q3 Quantity
At price P₁ you
at price P2 you
and at price P3 you
3
a. will have no trouble buying tennis balls; will find all the tennis balls you wish to buy;
may not find any tennis balls to buy
b. may not find any tennis balls to buy; will find all the tennis balls you wish to buy; will
have no trouble buying tennis balls
e. will find all the tennis balls you wish to buy; may not find any tennis balls to buy; will
have no trouble buying tennis balls
d. will have no trouble buying tennis balls; may not find any tennis balls to buy; will find
all the tennis balls you wish to buy
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