The equilibrium price in the market for lobster tails is $45 per pound. If a price of $30 is imposed on this market, this would be:

Name: The equilibrium price in the market for lobster tails is $45 per pound. If a price of $30 is imposed on this market, this would be:
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A price of $30, being lower than the equilibrium price of $45, acts as a price ceiling. This means it limits the price to a maximum of $30, which is below the market equilibrium, potentially leading to a shortage.

The Equilibrium Price in the Market for Lobster Tails Is