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Figure 6-31 ​

Question 615

Multiple Choice

Figure 6-31 Figure 6-31 ​ -Refer to Figure 6-31. Suppose that a price ceiling is imposed in this market at a price of $30. The effect of this price ceiling would be ​ A) nonbinding and cause a shortage of 50 units. B) ​binding and cause a shortage of 50 units. C) ​binding and cause a shortage of 20 units. D) nonbinding and have no effect on the market. ​
-Refer to Figure 6-31. Suppose that a price ceiling is imposed in this market at a price of $30. The effect of this price ceiling would be ​


A) nonbinding and cause a shortage of 50 units.
B) ​binding and cause a shortage of 50 units.
C) ​binding and cause a shortage of 20 units.
D) nonbinding and have no effect on the market.

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