Multiple Choice
Based on the following diagram if there were a $1.50 price ceiling: 
A) the quantity demanded would be 65.
B) the quantity demanded would be 80.
C) there would be a shortage of 30.
D) there would be a surplus of 30.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q3: Many products come with a warning about
Q10: Price controls on gasoline:<br>A) increase consumer surplus
Q13: Suppose Sam and Kevin can produce pens
Q14: The demand and supply curves in the
Q16: Assume the government introduces a $0.50 per
Q17: According to Ronald Coase, for a free-market
Q18: Assume the demand function for basketballs is
Q19: Assume Pollutex Inc. produces paper in its
Q23: What are externalities and why is Ronald
Q43: Consumer surplus is<br>A)the result of a shortage.<br>B)the