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Question 53

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-Refer to the graph above to answer this question.Suppose that the government imposes a price ceiling of $80 and subsequently demand decreases by 100.What would be the result? A) Price would fall to $60. B) There would be a surplus of 100 units. C) There would be a shortage of 100 units. D) There would be neither a surplus nor a shortage. E) 250 units would be sold.
-Refer to the graph above to answer this question.Suppose that the government imposes a price ceiling of $80 and subsequently demand decreases by 100.What would be the result?


A) Price would fall to $60.
B) There would be a surplus of 100 units.
C) There would be a shortage of 100 units.
D) There would be neither a surplus nor a shortage.
E) 250 units would be sold.

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