If price was set by the government at $4,there would be a price _____________,that would cause a ___________ of _______ units.

Question

Quizplus · Accepted Answer

A price ceiling set below the equilibrium price causes a shortage. The specific number of units depends on the details of the supply and demand curves, but in this context, if setting the price at $4 causes a shortage of 12 units, it indicates that at this price, the quantity demanded exceeds the quantity supplied by 12 units.

If Price Was Set by the Government at $4,there Would