Use the following to answer questions: 
-(Table: Quantity Supplied and Quantity Demanded) Look at the table Quantity Supplied and Quantity Demanded. If a price ceiling of $10 is imposed in this market:
Definitions:
Economic Theory
A set of principles and models that explain how economies function and how economic agents interact.
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale at those prices.
Demand Curve
A graph that shows the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable change.
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