Assume That the Market Clearing Price for a Shirt Is

Multiple Choice

Assume that the market clearing price for a shirt is $20, but that the maximum price that can be charged is $15. This is an example of

A) a price control that will lead to a surplus of shirts on the market.
B) a price floor that will lead to a shortage of shirts on the market.
C) markets failing to ration a fixed quantity of a good.
D) a price ceiling that will likely lead to a shortage of shirts on the market.