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Figure 6-6 -Refer to Figure 6-6.Which of the Following Statements Is Correct

Question 292

Multiple Choice

Figure 6-6 Figure 6-6 -Refer to Figure 6-6.Which of the following statements is correct? A) A price ceiling set at $4 will be binding and will result in a shortage of 3 units. B) A price ceiling set at $4 will be binding and will result in a shortage of 6 units. C) A price ceiling set at $7 will be binding and will result in a surplus of 6 units. D) A price ceiling set at $7 will be binding and will result in a surplus of 12 units.
-Refer to Figure 6-6.Which of the following statements is correct?


A) A price ceiling set at $4 will be binding and will result in a shortage of 3 units.
B) A price ceiling set at $4 will be binding and will result in a shortage of 6 units.
C) A price ceiling set at $7 will be binding and will result in a surplus of 6 units.
D) A price ceiling set at $7 will be binding and will result in a surplus of 12 units.

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