Figure 6-5
-Refer to Figure 6-5.If the government imposes a price ceiling of $2 on this market,then the result is a

Question

Figure 6-5 
-Refer to Figure 6-5.If the government imposes a price ceiling of $2 on this market,then the result is a

Quizplus · Accepted Answer

At a price of $2, the quantity demanded is 40 units and the quantity supplied is only 20 units, resulting in a shortage of 60 units. This is shown by the vertical distance between the quantity demanded at the price ceiling of $2 and the quantity supplied at that price.

Figure 6-5 -Refer to Figure 6-5.If the Government Imposes a Price Ceiling