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-Refer to Exhibit 4-11

Question 5

Multiple Choice

-Refer to Exhibit 4-11.Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4.The result of the price ceiling would be a ____________ of ______ units of good ABC. A) shortage; 20 B) surplus; 20 C) shortage; 60 D) surplus; 60
-Refer to Exhibit 4-11.Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4.The result of the price ceiling would be a ____________ of ______ units of good ABC.


A) shortage; 20
B) surplus; 20
C) shortage; 60
D) surplus; 60

Correct Answer:

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