-Refer to Table 3

question 7

Multiple Choice

-Refer to Table 3.1. If the government imposes a price of $2,

• A) the price will be above equilibrium.
• B) the price will fall to $1 because producers will be forced to incur losses.
• C) demand will increase.
• D) a surplus equal to 20 units will result.
• E) a shortage equal to 20 units will result.

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