-Refer to the above figure. If the government imposes a price ceiling of $20
A) the quantity of goods that will be traded is 100.
B) the quantity of goods that will be traded is 200.
C) the quantity of goods that will be traded is 150.
D) the quantity of goods that will be traded is 0.

Question

-Refer to the above figure. If the government imposes a price ceiling of $20
A) the quantity of goods that will be traded is 100. 
B) the quantity of goods that will be traded is 200. 
C) the quantity of goods that will be traded is 150. 
D) the quantity of goods that will be traded is 0.

Quizplus · Accepted Answer

The quantity of goods that will be traded is 100 because the price ceiling is below the equilibrium price, so there will be a shortage of goods.

-Refer to the Above Figure