-In the Above Figure, the Equilibrium Price of a Paperback

question 334

Multiple Choice

-In the above figure, the equilibrium price of a paperback book is $6 per book and the equilibrium quantity is 3 million books. The National Literature Board convinces the government to impose a price ceiling of $6 per book. At this price, the quantity of books supplied to the market will be

• A) 3 million a month and will equal the quantity demanded.
• B) less than 3 million a month and will exceed the quantity demanded.
• C) less than 3 million a month and will be less than the quantity demanded.
• D) more than 3 million a month and will exceed the quantity demanded.