If a Price Ceiling Is Set at $8 in the Market

question 162

Multiple Choice

If a price ceiling is set at $8 in the market in the graph shown, the total number of units traded will:

• A) fall by 8, relative to equilibrium.
• B) fall by 15, relative to equilibrium.
• C) fall by 23, relative to equilibrium.
• D) increase by 15, relative to equilibrium.