-Refer to the above figure. If the government set a price floor of $3.50 per gallon, there would be
A) an excess quantity demanded equal to 100,000 gallons.
B) an excess quantity supplied equal to the distance BD.
C) an excess quantity supplied equal to the distance BF.
D) an excess quantity supplied equal to 100,000 gallons.

Question

-Refer to the above figure. If the government set a price floor of $3.50 per gallon, there would be
A) an excess quantity demanded equal to 100,000 gallons. 
B) an excess quantity supplied equal to the distance BD. 
C) an excess quantity supplied equal to the distance BF. 
D) an excess quantity supplied equal to 100,000 gallons.

Quizplus · Accepted Answer

The Answer of 
-Refer to the above figure. If the government set a price floor of $3.50 per gallon, there would be
A) an excess quantity demanded equal to 100,000 gallons. 
B) an excess quantity supplied equal to the distance BD. 
C) an excess quantity supplied equal to the distance BF. 
D) an excess quantity supplied equal to 100,000 gallons.

-Refer to the Above Figure