-Refer to Figure 2-1.Assume that a price ceiling of $2 is imposed in this market,what will be the new quantity sold in this market?

Name: -Refer to Figure 2-1.Assume that a price ceiling of $2 is imposed in this market,what will be the new quantity sold in this market?
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When a price ceiling is imposed below the equilibrium price, a shortage occurs. At a price ceiling of $2, the quantity demanded is 60,000 units, while the quantity supplied is only 25,000 units. This creates a shortage of 35,000 units.