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1. Refer to the table. Suppose that * demand is represented by columns (1) and (2) and supply is represented by columns (4) and (5).
1. Refer to the table. Suppose that * demand is represented by columns (1) and (2) and supply is represented by columns (4) and (5). If the price were articially set at $9, O a) the market would clear. 0 b) a surplus of 20 units would occur 0 c) a shortage of 20 units would occur d) demand would change from 0 columns (3) and (2) to columns (3) and (1). 2. Refer to the diagram. A decrease in quantity demanded is depicted by a Price 0 Quantity 3) move from point x to point y. b) shift from D1 to D2. c) shift from DZ to D1. d) move from point y to point x. @0000 This is a required
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