The graph displays various economic outcomes. Price Level P4 P3 B P2 A P₁ LRAS SRAS ADA AD3 AD₂ AD Y Y₁ Y2 Y3 Y4 Suppose the economy is currently at equilibrium D. To bring the economy back to its long-run equilibrium, the government might Multiple Choice
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- When the covid-19 shock started in early 2020, supermarkets quickly ran out of toilet paper as panic buying took place and its price remained the same. In that case demand was higher as compare to supply and by the time goods was disappear from the market?page 3 of 30) - Work - Microsoft Edge Pelearn.squ.edu.om/mod/quiz/attempt.php?attempt=1741568&cmid=862538&page=2 ARNING SYSTEM (ACADEMIC) 8 B 7 S1 3 3 4 5 6 7 8 9 10 11 12 Cheeseburgers Figure 3.19 Refer to Figure 3.19. The market is initially in equilibrium at Point A. If supply shifts from S1 to S2 and the price of cheeseburgers remains constant at $5.00, there will be O a. an excess supply of 3 cheeseburgers. Ob. an excess demand of 6 cheeseburgers. an excess demand of 4 cheeseburgers. O d. an excess supply of 6 cheeseburgers. a pe here to search Cip Price ($)the degree of change in demand or supply due to the change in its determinants