-Refer to Exhibit 4-1.How many fewer units are bought and sold because of the price ceiling than would have been bought and sold at the equilibrium price?
A) 50
B) 60
C) 65
D) 100

Question

-Refer to Exhibit 4-1.How many fewer units are bought and sold because of the price ceiling than would have been bought and sold at the equilibrium price?
A) 50 
B) 60 
C) 65 
D) 100

Quizplus · Accepted Answer

A price ceiling set below the equilibrium price results in a shortage, reducing the quantity bought and sold. The correct answer is determined by the specific data in Exhibit 4-1, which indicates 50 fewer units are bought and sold due to the price ceiling.