Refer to Exhibit 5-9. If the government intervenes in the market for milk and sets a price ceiling of $2.00 per gallon, the result is:
A)a shortage of exactly 1,200 gallons of milk.
B)a surplus of exactly 1,000 gallons of milk.
C)that some consumers will not be able to buy milk at that price.
D)that some sellers will not be able to sell available milk at that price.

Question

Refer to Exhibit 5-9. If the government intervenes in the market for milk and sets a price ceiling of $2.00 per gallon, the result is:
A)​a shortage of exactly 1,200 gallons of milk.
B)​a surplus of exactly 1,000 gallons of milk.
C)​that some consumers will not be able to buy milk at that price.
D)​that some sellers will not be able to sell available milk at that price.

Quizplus · Accepted Answer

The Answer of Refer to Exhibit 5-9. If the government intervenes in the market for milk and sets a price ceiling of $2.00 per gallon, the result is:
A)​a shortage of exactly 1,200 gallons of milk.
B)​a surplus of exactly 1,000 gallons of milk.
C)​that some consumers will not be able to buy milk at that price.
D)​that some sellers will not be able to sell available milk at that price.