if in the graph, it is assumed that the price is initially P1, it can...

Economics

JAMB 1992

if in the graph, it is assumed that the price is initially P₁, it can be deduced that price will

A. fall because there is a surplus
B. remain constant because it is the equilibrium price
C. rise because there is a shortage
D. double

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Correct Answer: Option A

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if in the graph, it is assumed that the price is initially P1, it can...

Correct Answer: Option A

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