Figure: Supply and Demand
(Figure: Supply and Demand) Look at the figure Supply and Demand.In the market shown in the figure, a price ceiling of P₃ causes:
A.a shortage equal to the distance AB.
B.a surplus equal to the distance AB.
C.a shortage equal to the distance DE.
D.no change to the market.

Question

Figure: Supply and Demand
   (Figure: Supply and Demand) Look at the figure Supply and Demand.In the market shown in the figure, a price ceiling of P₃ causes: 
A.a shortage equal to the distance AB.
B.a surplus equal to the distance AB.
C.a shortage equal to the distance DE.
D.no change to the market.

Quizplus · Accepted Answer

The Answer of Figure: Supply and Demand
   (Figure: Supply and Demand) Look at the figure Supply and Demand.In the market shown in the figure, a price ceiling of P₃ causes: 
A.a shortage equal to the distance AB.
B.a surplus equal to the distance AB.
C.a shortage equal to the distance DE.
D.no change to the market.