Exhibit 4-9 Data on Supply and Demand In Exhibit 4-9, If a Price Ceiling Is Set at c

question 100

Multiple Choice

Exhibit 4-9 Data on supply and demand $$\begin{array} { | c | c | c | } \hline \text { Price } & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\hline \$ 2.00 & 100 & 300 \\1.50 & 150 & 250 \\1.00 & 200 & 200 \\0.50 & 250 & 150 \\\hline\end{array}$$ In Exhibit 4-9, if a price ceiling is set at $1.50 the market result after adjustment is:

• A) a shortage of 150 units.
• B) a surplus of 100 units.
• C) shortage of 100 units.
• D) equilibrium at 200 units.

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