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

Question

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

Quizplus · Accepted Answer

The equilibrium price is $100, and the price ceiling is $80. At the equilibrium price, 150 units are exchanged. At the price ceiling, only 90 units are exchanged. Therefore, 150 - 90 = 60 fewer units are exchanged because of the price ceiling.

Exhibit 4-1 -Refer to Exhibit 4-1.How Many Fewer Units Are Exchanged Because