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Figure 6-4 -Refer to Figure 6-4.With a Price Ceiling Present in This

Question 39

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Figure 6-4 -Refer to Figure 6-4.With a price ceiling present in this market,what will happen when the supply curve for gasoline shifts from S₁ to S₂

Figure 6-4
Figure 6-4 -Refer to Figure 6-4.With a price ceiling present in this market,what will happen when the supply curve for gasoline shifts from S₁ to S₂ A) The price will increase to P₃. B) A surplus will occur at the new market price of P₂. C) The market price will stay at P₁ due to the price ceiling. D) A shortage will occur at the price ceiling of P₂.
-Refer to Figure 6-4.With a price ceiling present in this market,what will happen when the supply curve for gasoline shifts from S₁ to S₂


A) The price will increase to P₃.
B) A surplus will occur at the new market price of P₂.
C) The market price will stay at P₁ due to the price ceiling.
D) A shortage will occur at the price ceiling of P₂.

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