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

question 164

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.

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