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-Refer to Table 3

Question 72

Multiple Choice

-Refer to Table 3.3 to answer this question.Suppose that the government introduces an effective price ceiling which is $0.20 different from the equilibrium price and at the same time supply increases by 12 units.What will be the result? A) Price will be $2.30 and quantity traded will be 164. B) Price will be $2.30 and quantity traded will be 152. C) Price will be $1.90 and quantity traded will be 156. D) Price will be $1.90 and quantity sold will be 144. E) Equilibrium price and quantity will be $1.90 and 156.
-Refer to Table 3.3 to answer this question.Suppose that the government introduces an effective price ceiling which is $0.20 different from the equilibrium price and at the same time supply increases by 12 units.What will be the result?


A) Price will be $2.30 and quantity traded will be 164.
B) Price will be $2.30 and quantity traded will be 152.
C) Price will be $1.90 and quantity traded will be 156.
D) Price will be $1.90 and quantity sold will be 144.
E) Equilibrium price and quantity will be $1.90 and 156.

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