Exhibit 4-9 Data on supply and demand 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  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  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 in Exhibit 4-9