Exhibit 4-11 Refer to Exhibit 4-11. Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4. The number of units that would be exchanged in the market for good ABC at the price ceiling would be _________ units.

Question

​Exhibit 4-11  Refer to Exhibit 4-11.  Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4.  The number of units that would be exchanged in the market for good ABC at the price ceiling would be _________ units.

Quizplus · Accepted Answer

At a price of $4, the quantity demanded would be 40 units and the quantity supplied would be 40 units, resulting in a market equilibrium of 40 units exchanged.

​Exhibit 4-11 Refer to Exhibit 4-11

Exhibit 4-11 Refer to Exhibit 4-11