Refer to the following graph. A price ceiling would be binding, resulting in a market shortage if it is set at:
A) $3.00.
B) $2.25.
C) $1.50.
D) either $3.00 or $1.50.

Question

Refer to the following graph.  A price ceiling would be binding, resulting in a market shortage if it is set at:
A) $3.00. 
B) $2.25. 
C) $1.50. 
D) either $3.00 or $1.50.

Quizplus · Accepted Answer

The Answer of Refer to the following graph.  A price ceiling would be binding, resulting in a market shortage if it is set at:
A) $3.00. 
B) $2.25. 
C) $1.50. 
D) either $3.00 or $1.50.

Refer to the Following Graph