Use the figure below to answer the following question(s) . Figure 4-4
Given the demand and supply conditions shown in Figure 4-4, what will happen as the result of imposing a price ceiling of a?
A) Demand for the product will decline.
B) Supply will increase.
C) There will be a shortage of the product.
D) Over time, the quality of the product offered by suppliers will increase.
Correct Answer:
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