Consider a Market Characterized by the Following Inverse Demand and Supply

Multiple Choice

Consider a market characterized by the following inverse demand and supply functions: P_X = 10 − 2Q_X and P_X = 2 + 2Q_X. An $8 per unit price floor will result in a:

A) shortage of 1 unit.
B) surplus of 2 units.
C) shortage of 3 units.
D) surplus of 3 units.