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If a Price Ceiling Is Set at $8 in the Market

Question 35

Multiple Choice

If a price ceiling is set at $8 in the market shown in the graph: A) excess supply of 7 units will occur. B) excess supply of 15 units will occur. C) excess supply of 23 units will occur. D) no excess supply will occur. If a price ceiling is set at $8 in the market shown in the graph:


A) excess supply of 7 units will occur.
B) excess supply of 15 units will occur.
C) excess supply of 23 units will occur.
D) no excess supply will occur.

Correct Answer:

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