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(Figure: Price and Quantity IV) at a Price Ceiling of $8

Question 106

Multiple Choice

(Figure: Price and Quantity IV) At a price ceiling of $8, there is a shortage of _____ and a deadweight loss of _____.

A) 200 pounds; $1,200
B) 500 pounds; $400
C) 300 pounds; $600
D) 300 pounds; $300

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