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The diagram shows a graph that plots price in the vertical axis versus quantity in the horizontal axis. The graph shows a supply curve and
The diagram shows a graph that plots price in the vertical axis versus quantity in the horizontal axis. The graph shows a supply curve and a demand cuThe horizontal axis labeled quantity ranges from 0 to 200 in increments of 50. The vertical axis labeled price ranges from $ 0 to $ 60 in increments of $ 20. The supply curve is a rising curve that passes through the points (100, $ 20), (150, $ 40), and ends at the point (200, $ 60). The demand curve is a falling curve that passes through the points (100, $ 60), (150, $ 40), and ends at the point (200, $ 20). Refer to the diagram. A price of $60 in this market will result in Multiple Choice equilibrium. a shortage of 50 units. a surplus of 50 units. a surplus of 100 units
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