Use the Following to Answer Questions

question 106

Multiple Choice

Use the following to answer questions:
-(Table: Quantity Supplied and Quantity Demanded) Look at the table Quantity Supplied and Quantity Demanded. If a price ceiling of $10 is imposed in this market:

• A) the quantity demanded will be greater than the quantity supplied.
• B) the quantity supplied will be greater than the quantity demanded.
• C) an equilibrium quantity will result.
• D) excess supply equal to 25 units will result.

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