Economics Micro & Macro (CliffsAP)

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Microeconomics Full-Length Practice Test 2

Microeconomics Full-Length


Practice Test 2


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  1. Question 5 refers to the following graph.


The graph above shows the supply and demand curves for the lemon market. How will a price set at P(F) affect
the market for lemons?
A. There will be a surplus of Q2 – Q1 lemons.
B. There will be a surplus of Q2 – Qe lemons.
C. There will be a shortage of Q2 – Q lemons.
D. There will be a shortage of Qe – Q1 lemons.
E. There will be a surplus of Qe – Q1 lemons.

Q^1 Q^2 Q^3 Quantity

P(F)

P(e)

Price

S

D
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