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Question 12

Multiple Choice

-Refer to the above graph to answer this question.What is true about the possible surpluses and shortages in this market if the price is $1,000 below equilibrium? A) There will be a shortage of 20. B) There will be a shortage of 40. C) There will be a surplus of 20. D) There will be a surplus of 40. E) Cannot be determined.
-Refer to the above graph to answer this question.What is true about the possible surpluses and shortages in this market if the price is $1,000 below equilibrium?


A) There will be a shortage of 20.
B) There will be a shortage of 40.
C) There will be a surplus of 20.
D) There will be a surplus of 40.
E) Cannot be determined.

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