Figure 4-14 in Figure 4-14, Which of the Following Is True at Is

Multiple Choice

Figure 4-14
In Figure 4-14, which of the following is true at the price ceiling, P?

A) The excess quantity supplied equals 300 gallons.
B) The excess quantity demanded equals 300 gallons.
C) The excess quantity supplied equals 500 gallons.
D) The excess quantity demanded equals 800 gallons.
E) Sales will be equal to 800 gallons.