-Refer to the Graph Above to Answer This Question

question 150

Multiple Choice

-Refer to the graph above to answer this question. What would be the result if a price ceiling is set which is $2 different from the equilibrium price?

• A) The price would be above equilibrium and a surplus of 60 would be produced.
• B) The price would be below equilibrium and a shortage of 60 would be produced.
• C) The price would be above equilibrium and a shortage of 60 would be produced.
• D) The price would be below equilibrium and a surplus of 60 would be produced.

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Definitions:

Cross-sectional Study

A type of observational study that analyzes data from a population, or a representative subset, at a specific point in time.

Ecologic

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Median Household Income

The middle value of household incomes when arranged in ascending or descending order, dividing the income distribution into two equal halves.

Teen Pregnancy

Pregnancy occurring in young women or girls within the teenage years, often considered as ages 13-19.