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Exhibit 4-13 -Refer to the Exhibit.Which of the Following Best Describes What

Question 201

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Exhibit 4-13
Exhibit 4-13 -Refer to the exhibit.Which of the following best describes what happens at the price ceiling, P?   A)  The excess quantity demanded equals 800 units.  B)  The excess quantity demanded equals 300 units.  C)  The excess quantity supplied equals 500 units.  D)  The excess quantity supplied equals 300 units.
-Refer to the exhibit.Which of the following best describes what happens at the price ceiling, P?  


A)  The excess quantity demanded equals 800 units. 
B)  The excess quantity demanded equals 300 units. 
C)  The excess quantity supplied equals 500 units. 
D)  The excess quantity supplied equals 300 units.

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