-If the government imposed a price ceiling of $5.00 in this market there would be:

Name: -If the government imposed a price ceiling of $5.00 in this market there would be:
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A price ceiling set below the equilibrium price (where demand equals supply) typically results in a shortage because the price is too low to clear the market. At $5.00, if this price is below the equilibrium, it would mean that the quantity demanded exceeds the quantity supplied, leading to a shortage.

-If the Government Imposed a Price Ceiling of $5