After a Price Ceiling of $8 Is Placed on the Market

question 143

Multiple Choice

After a price ceiling of $8 is placed on the market in the graph shown,the total number of units traded:

• A) falls by 8 relative to equilibrium.
• B) falls by 15 relative to equilibrium.
• C) falls by 23 relative to equilibrium.
• D) increases by 15 relative to equilibrium.

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