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The Following Figure Shows the Effect of a Price Ceiling

Question 57

Multiple Choice

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 net change in total surplus due to a price ceiling set at P<sub>3</sub> is _____. A) EKF B) P<sub>3</sub>KFP<sub>2</sub> C) 0 D) EFJ
-In Figure 10-1,the net change in total surplus due to a price ceiling set at P3 is _____.


A) EKF
B) P3KFP2
C) 0
D) EFJ

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