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Refer to the Accompanying Figure to Answer the Questions That

Question 125

Multiple Choice

Refer to the accompanying figure to answer the questions that follow.
Refer to the accompanying figure to answer the questions that follow. -The market is currently at market equilibrium.If a binding price ceiling of P₁ is imposed,by how much would the quantity demanded change? A) It would increase by 12,000 units. B) It would decrease by 30,500 units. C) It would decrease by 12,000 units. D) It would increase by 30,500 units. E) It would increase by 30,000 units.
-The market is currently at market equilibrium.If a binding price ceiling of P₁ is imposed,by how much would the quantity demanded change?


A) It would increase by 12,000 units.
B) It would decrease by 30,500 units.
C) It would decrease by 12,000 units.
D) It would increase by 30,500 units.
E) It would increase by 30,000 units.

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