During the First Year That the Salk Vaccine for Infantile

Multiple Choice

During the first year that the Salk vaccine for infantile paralysis became available, the quantity produced was too small to inoculate all those in susceptible age groups.Although the cost of production and the price were not particularly high, production could not be expanded rapidly enough to meet the demand.The government therefore intervened to regulate its distribution.What do these facts suggest about the price of Salk vaccine during the first year it was available? It was:

A) at equilibrium and government should not have intervened.
B) above equilibrium and a price ceiling was required.
C) below equilibrium and a price ceiling was required.
D) indeterminate.
E) below equilibrium so there was a shortage