-A)Is $28 a Price Ceiling or Price Floor in the Above

question 150

Short Answer

-A)Is $28 a price ceiling or price floor in the above graph?
B)Is there a shortage or a surplus?
C)How much is this shortage or surplus?

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Definitions:

Suppose

To assume or consider something to be true without proof.

They're

A contraction of "they are" used as a subject pronoun followed by the verb "to be" in its plural form.

Affect

The observable expression of emotions, which can influence someone's experience and communication.

Except

Excluding or with the exclusion of; used to specify something as not included in a category or group.