The following figure illustrates the demand and supply curves for a good.
-Refer to the figure above.Which of the following is likely to happen if a price control of $40 is imposed?
A) There will be a surplus of 10 units in the market.
B) There will be a shortage of 10 units in the market.
C) There will be a surplus of 20 units in the market.
D) There will be a shortage of 20 units in the market.
Correct Answer:
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