Question: a. A gap will be created if price remained at P1 but the demand curve has already shifted to D2. b. The gap is a

a. A gap will be created if price remained at P1 but the demand curve has already shifted to D2. b. The gap is a SURPLUS. c. The gap is a SHORTAGE. d. If there is a shortage, price P1 will fall to clear the shortage. e. If there is a shortage, price P1 will rise to clear the shortage. f. The new equilibrium (name it E2) will be below E1

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