Exhibit 4-9 Data on supply and demand

Price

Quantity
Demanded

Quantity
Supplied

$2.00

100

300

1.50

150

250

1.00

200

200

0.50

250

150

In Exhibit 4-9, if a price ceiling is set at $1.50 the market result after adjustment is: A) a shortage of 150 units. B) a surplus of 100 units. C) shortage of 100 units. D) equilibrium at 200 units.

Question

Exhibit 4-9 Data on supply and demand

Price	Quantity Demanded	Quantity Supplied
$2.00	100	300
1.50	150	250
1.00	200	200
0.50	250	150

In Exhibit 4-9, if a price ceiling is set at $1.50 the market result after adjustment is: A) a shortage of 150 units. B) a surplus of 100 units. C) shortage of 100 units. D) equilibrium at 200 units.

Quizplus · Accepted Answer

The Answer of Exhibit 4-9 Data on supply and demand

Price	Quantity Demanded	Quantity Supplied
$2.00	100	300
1.50	150	250
1.00	200	200
0.50	250	150

In Exhibit 4-9, if a price ceiling is set at $1.50 the market result after adjustment is: A) a shortage of 150 units. B) a surplus of 100 units. C) shortage of 100 units. D) equilibrium at 200 units.

Exhibit 4-9 Data on Supply and Demand