Figure 4-19 -Refer to Figure 4-19. When the Price Ceiling Applies in Ceiling

question 183

Multiple Choice

Figure 4-19
-Refer to Figure 4-19. When the price ceiling applies in this market and the supply curve for gasoline shifts from S₁ to S₂, the resulting quantity of gasoline that is bought and sold is

• A) less than Q₃.
• B) Q₃
• C) between Q₁ and Q_3.
• D) at least Q₁.

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