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Figure 6-14 -Refer to Figure 6-14.If the Horizontal Line on the Graph

Question 123

Multiple Choice

Figure 6-14 Figure 6-14 -Refer to Figure 6-14.If the horizontal line on the graph represents a price ceiling,then the price ceiling is A) binding and creates a shortage of 20 units of the good. B) binding and creates a shortage of 40 units of the good. C) not binding but creates a shortage of 40 units of the good. D) not binding,and there will be no surplus or shortage of the good.
-Refer to Figure 6-14.If the horizontal line on the graph represents a price ceiling,then the price ceiling is


A) binding and creates a shortage of 20 units of the good.
B) binding and creates a shortage of 40 units of the good.
C) not binding but creates a shortage of 40 units of the good.
D) not binding,and there will be no surplus or shortage of the good.

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