-Refer to the Graph Above to Answer This Question

question 103

Multiple Choice

-Refer to the graph above to answer this question.What would be the effect of a price ceiling set $20 above the equilibrium price?

• A)A surplus of 100 units.
• B)A shortage of 100 units.
• C)200 units would be sold.
• D)300 units would be sold.
• E)There would be neither a surplus nor a shortage.

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