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In Figure 4.3, at a market price of $6, the price will: Figure 4.3 Graph-The supply and demand curve intersect; price 15 is above the
In Figure 4.3, at a market price of $6, the price will: Figure 4.3 Graph-The supply and demand curve intersect; price 15 is above the point of intersection with quantity Q1 on the demand curve and quantity Q2 on the supply curve at that price; price 6 is below where the two curves intersect with quantity Q3 on the supply curve and quantity Q4 on the demand curve at that price In Figure 4.3, at a market price of $6, the price will: have a tendency to fall since consumers do not wish to buy enough of the good. have a tendency to rise since producers would like to receive a higher price. have a tendency to rise since consumers wish to buy more than what is produced. have a tendency to rise and the quantity actually purchased by consumers fall
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