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-Refer to Exhibit 4-3

Question 120

Multiple Choice

-Refer to Exhibit 4-3.If price P<sub>3</sub> is a price ceiling,then A) the price ceiling does not have an effect on the market for good X. B) the price at which exchange takes place is P<sub>3</sub>. C) the price at which exchange takes place is P<sub>2</sub>. D) there is a shortage in the market for good X. E) both a and c
-Refer to Exhibit 4-3.If price P3 is a price ceiling,then


A) the price ceiling does not have an effect on the market for good X.
B) the price at which exchange takes place is P3.
C) the price at which exchange takes place is P2.
D) there is a shortage in the market for good X.
E) both a and c

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