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(1) Qd 50 60 80 (2) Qd 40 (3) Price $10 9 (4) Qs 70 60 50 40 30 (5) Qs 80 70 50 60

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(1) Qd 50 60 80 (2) Qd 40 (3) Price $10 9 (4) Qs 70 60 50 40 30 (5) Qs 80 70 50 60 70 8 60 7 50 90 100 80 6 40 Refer to the table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5) if the price were artificially set at $6, Multiple Choice the market would clear. O the market would clear. O a surplus of 40 units would occur. a shortage of 40 units would occur. demand would change from columns (3) and (2) to columns (3) and (1)

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