Use the following to answer questions:
Figure: Government Price Controls
-(Figure: Government Price Controls) Refer to the figure. If the government sets the price ceiling at $31, there will be:
A) a shortage of 15 units.
B) a surplus of 15 units.
C) a supply of 20 units.
D) no effect on the market.
Correct Answer:
Verified
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Figure: Government
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Figure: Effects
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