The Excess Demand Created When the Government Imposes a Price

Multiple Choice

The excess demand created when the government imposes a price ceiling

A) shifts the equilibrium price upward to the price ceiling level
B) is the difference between the quantity demanded at the old equilibrium price and quantity supplied at the price set by the price ceiling
C) is the difference between the quantity demanded at the price set by the price ceiling and quantity supplied at the old equilibrium price
D) is the difference between the quantity demanded at the price set by the price ceiling and quantity supplied at the price set by the price ceiling
E) is the difference between the old equilibrium price and the price set by the priceceiling