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-In the Above Figure, the Equilibrium Price of a Paperback

Question 82

Multiple Choice

  -In the above figure, the equilibrium price of a paperback book is $6 per book and the equilibrium quantity is 3 million books. The National Literature Board convinces the government to impose a price ceiling of $3 per book. At this price, the quantity of books supplied to the market will be A)  3 million a month and will equal the quantity demanded. B)  less than 3 million a month and will exceed the quantity demanded. C)  less than 3 million a month and will be less than the quantity demanded. D)  more than 3 million a month and will exceed the quantity demanded.
-In the above figure, the equilibrium price of a paperback book is $6 per book and the equilibrium quantity is 3 million books. The National Literature Board convinces the government to impose a price ceiling of $3 per book. At this price, the quantity of books supplied to the market will be


A) 3 million a month and will equal the quantity demanded.
B) less than 3 million a month and will exceed the quantity demanded.
C) less than 3 million a month and will be less than the quantity demanded.
D) more than 3 million a month and will exceed the quantity demanded.

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