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In a Competitive Market Illustrated by the Diagram Above, a Price

Question 122

Multiple Choice

In a competitive market illustrated by the diagram above, a price ceiling of $25 per unit will result in: A) The market stays at equilibrium price of $15 B) A surplus of 200 units C) A shortage of 200 units D) A shortage of 150 units In a competitive market illustrated by the diagram above, a price ceiling of $25 per unit will result in:


A) The market stays at equilibrium price of $15
B) A surplus of 200 units
C) A shortage of 200 units
D) A shortage of 150 units

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