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Refer to the above diagram for the milk market. If the price were $2.00 per gallon, then there would be O a surplus of 30 million gallons. a shortage of 20 million gallons. O a surplus of 10 million gallons. O a shortage of 10 million gallons.

Refer to the above diagram for the milk market. If the price were $2.00 per gallon, then there would be O a surplus of 30 million gallons. a shortage of 20 million gallons. O a surplus of 10 million gallons. O a shortage of 10 million gallons.

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 $2.00 per gallon, then there would be :

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