-Refer to the Graph Above to Answer This Question

question 81

Multiple Choice

-Refer to the graph above to answer this question.What would be the result if an effective price ceiling is set which is $2 different from the equilibrium price and demand increased by 30?

• A)The price would be above equilibrium and a surplus of 90 would be produced.
• B)The price would be below equilibrium and a shortage of 90 would be produced.
• C)The price would be above equilibrium and a shortage of 90 would be produced.
• D)The price would be below equilibrium and a surplus of 90 would be produced.

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