Use the figure below to answer the following questions. Price P3 P₂ P₁ S X At price P3 in Figure 3.4.1, Quantity Select one: A. there is a tendency for the price to rise. B. this market is in equilibrium. C. there is a surplus in the amount of Q5 - Q₁. D. there is a shortage in the amount of Q5 - Q1. O E. equilibrium quantity is Q5. Figure 3.4.1

Use the figure below to answer the following questions. Price P3 P₂ P₁ S X At price P3 in Figure 3.4.1, Quantity Select one: A. there is a tendency for the price to rise. B. this market is in equilibrium. C. there is a surplus in the amount of Q5 - Q₁. D. there is a shortage in the amount of Q5 - Q1. O E. equilibrium quantity is Q5. Figure 3.4.1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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