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Question 19

Multiple Choice

-Refer to the graph above to answer this question.What would be the effect of a price ceiling set $20 below the equilibrium price? A) A surplus of 100 units. B) A shortage of 100 units. C) 300 units would be sold. D) There would be neither a surplus nor a shortage. E) The product would be overpriced.
-Refer to the graph above to answer this question.What would be the effect of a price ceiling set $20 below the equilibrium price?


A) A surplus of 100 units.
B) A shortage of 100 units.
C) 300 units would be sold.
D) There would be neither a surplus nor a shortage.
E) The product would be overpriced.

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