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Figure 6-13 This Figure Shows the Market Demand and Market Supply Curves

Question 124

Multiple Choice

Figure 6-13
This figure shows the market demand and market supply curves for good X. Figure 6-13 This figure shows the market demand and market supply curves for good X. -Refer to Figure 6-13.Which of the following statements is not correct? A) A price ceiling set at $4 would be binding,but a price ceiling set at $6 would not be binding. B) A price floor set at $7 would be binding,but a price floor set at $4 would not be binding. C) A price ceiling set at $3.50 would result in a surplus. D) A price floor set at $6.50 would result in a surplus.
-Refer to Figure 6-13.Which of the following statements is not correct?


A) A price ceiling set at $4 would be binding,but a price ceiling set at $6 would not be binding.
B) A price floor set at $7 would be binding,but a price floor set at $4 would not be binding.
C) A price ceiling set at $3.50 would result in a surplus.
D) A price floor set at $6.50 would result in a surplus.

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