Question: The graph you are given shows the demand for and supply of South African rand. When the currency moves from R8.60/$ to R9.00/$, what situation

The graph you are given shows the demand for and supply of South African rand. When the currency moves from R8.60/$ to R9.00/$, what situation is created? (Indicate all that apply. Incorrect selections will be penalised.)

1. Excess supply

2. Excess demand

3. Equilibrium

4. Shortage

5. Surplus

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