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On a Supply-And-Demand Diagram,consider a Price for Which the Horizontal

Question 211

Multiple Choice

On a supply-and-demand diagram,consider a price for which the horizontal distance to the supply curve exceeds the horizontal distance to the demand curve.There is a __________ at that price and the current price must be __________ the equilibrium price.


A) shortage; above
B) shortage; below
C) surplus; above
D) surplus; below

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