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The Following Figure Shows the Effect of a Price Ceiling

Question 93

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The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P2 and quantity B.
Figure 10-1 The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P<sub>2 </sub>and quantity B. Figure 10-1 -In Figure 10-1,the deadweight loss due to a price ceiling set at P<sub>1</sub> is area _____. A) GFH B) EFI C) EFK D) EFHI
-In Figure 10-1,the deadweight loss due to a price ceiling set at P1 is area _____.


A) GFH
B) EFI
C) EFK
D) EFHI

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