Complete Table 3

question 148

Multiple Choice

Complete Table 3.1. Then answer the indicated question. Table 3.1 Individual Demand and Supply Schedules
In Table 3.1, if government held the price at $3,

• A) The government would be setting an effective price floor.
• B) The shortage would be the same as the quantity demanded.
• C) There would be a shortage.
• D) The market would be in equilibrium.

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