5. Refer to Figure 4-7. At a price of $35, a. a shortage would exist and the price would tend to fall from $35 to a lower price. b. a surplus would exist and the price would tend to rise from $35 to a higher price. c. a surplus would exist and the price would tend to fall from $35 to a lower price. d. an excess demand would exist and the price would tend to fall from $35 to a lower price