-Refer to the graph above to answer this question.If the government imposes an effective price ceiling of $4,what will be the new price and quantity in the market?

Name: -Refer to the graph above to answer this question.If the government imposes an effective price ceiling of $4,what will be the new price and quantity in the market?
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A price ceiling set at $4 would mean the new price is $4. The quantity would adjust to where supply and demand meet at this price, which is 30 units.

-Refer to the Graph Above to Answer This Question