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In a Market with Supply and Demand Curves as Shown

Question 347

Multiple Choice

In a market with supply and demand curves as shown above, a price ceiling of $2.50 will result in A) a surplus of 10 units. B) a shortage of 10 units. C) no shortage or surplus. D) a black market price greater than $2.50. In a market with supply and demand curves as shown above, a price ceiling of $2.50 will result in


A) a surplus of 10 units.
B) a shortage of 10 units.
C) no shortage or surplus.
D) a black market price greater than $2.50.

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