Multiple Choice

-Refer to Exhibit 4-11.Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4.The result of the price ceiling would be a ____________ of ______ units of good ABC.
A) shortage; 20
B) surplus; 20
C) shortage; 60
D) surplus; 60
Correct Answer:
Verified
Related Questions
Q102: Q103: Price serves as a![]()
A) rationing device.
B) transmitter