Use the Following to Answer Questions

question 166

Multiple Choice

Use the following to answer questions:
Figure: Effects of Price Ceilings
-(Figure: Effects of Price Ceilings) Refer to the figure. Suppose that the data represent the retail gasoline market. At a price ceiling of $2, the total value of wasted time from waiting in line is:

• A) $5.
• B) $10.
• C) $15.
• D) $20.