Figure 9.2.1 -Refer to Figure 9.2.1 Above. When the Minimum Imposed Price

Multiple Choice

Figure 9.2.1
-Refer to Figure 9.2.1 above. When the minimum imposed price is P₂,

A) the quantity supplied is Q₂ and the quantity demanded is Q_3, so a surplus develops.
B) the quantity supplied is Q₃, which results in a deadweight loss.
C) the quantity supplied remains at Q₀, so only quantity demanded falls to Q₃.
D) the resulting surplus in the market is transferred to consumers.