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In a Competitive Market Illustrated by the Diagram Above, a Price

Question 345

Multiple Choice

In a competitive market illustrated by the diagram above, a price ceiling of $25 per unit will result in A) the market staying at an equilibrium price of $15. B) a surplus of 200 units. C) a shortage of 200 units. D) a shortage of 150 units. In a competitive market illustrated by the diagram above, a price ceiling of $25 per unit will result in


A) the market staying at an equilibrium price of $15.
B) a surplus of 200 units.
C) a shortage of 200 units.
D) a shortage of 150 units.

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