Multiple Choice
Exhibit 4-9 Data on supply and demand
|
| Quantity | Quantity |
| $2.00 | 100 | 300 |
| 1.50 | 150 | 250 |
| 1.00 | 200 | 200 |
| 0.50 | 250 | 150 |
In Exhibit 4-9, if a price ceiling is set at $1.50 the market result after adjustment is:
A) a shortage of 150 units.
B) a surplus of 100 units.
C) shortage of 100 units.
D) equilibrium at 200 units.
Correct Answer:
Verified
Correct Answer:
Verified
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