In the figure given below,which of the following is true at the price ceiling,P?
Figure 4.8

A) Excess quantity supplied equals 300 gallons.
B) Excess quantity demanded equals 300 gallons.
C) Excess quantity supplied equals 500 gallons.
D) Excess quantity demanded equals 800 gallons.
E) Quantity demanded will be equal to quantity supplied.
Correct Answer:
Verified
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