Suppose the equilibrium price of bread is $2.00 per loaf.If the government sets a price ceiling of $2.50 per loaf:
A) the price of wheat will rise and a shortage is created.
B) the quantity supplied of wheat will increase.
C) there will be no change in the quantity of bread demanded or supplied.
D) there will be a shortage of bread.
E) there will be a surplus of bread.
Correct Answer:
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