The Following Questions Refer to the Graph Below

question 110

Multiple Choice

The Following Questions Refer to the graph below.
-The demand curve and supply curve for beef are DD and SS.The demand curve shifts to D₁D₁ and a price ceiling is placed on beef at price p.The result will be

• A)A surplus equal to X₁X
• B)A shift in the supply curve to S₁S₁
• C)An increase in the quantity placed on the market to X₁
• D)Both (b)and (c)above
• E)A shortage equal to X₁X

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