If the Equilibrium Price of Bread Is $2 and the Government

Multiple Choice

If the equilibrium price of bread is $2 and the government imposes a $1.50 price ceiling on the price of bread, then:

A) more bread will be produced.
B) there will be a shortage of bread.
C) the demand for bread will decrease.
D) producers will charge $0.50 for bread.
E) $0.50 in tax revenue will be paid for each unit of bread.