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-The Above Figure Shows the Market for T-Shirts,where the Market

Question 128

Multiple Choice

  -The above figure shows the market for t-shirts,where the market equilibrium price is $10.If the government imposes a price ceiling of $8,then A) there is a shortage of 250 t-shirts. B) there is a surplus of 300 t-shirts. C) there is no change as the price ceiling is set above the equilibrium price. D) there is a surplus of 250 t-shirts. E) there is a shortage of 300 t-shirts.
-The above figure shows the market for t-shirts,where the market equilibrium price is $10.If the government imposes a price ceiling of $8,then


A) there is a shortage of 250 t-shirts.
B) there is a surplus of 300 t-shirts.
C) there is no change as the price ceiling is set above the equilibrium price.
D) there is a surplus of 250 t-shirts.
E) there is a shortage of 300 t-shirts.

Correct Answer:

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