The Table Given Below Reports the Quantity Demanded and Supplied

question 57

Multiple Choice

The table given below reports the quantity demanded and supplied of a commodity at different prices in a market. Table 3.5
Refer to Table 3.5.If government imposes a price floor of $2:

• A)the price floor will not have an effect.
• B)the price will fall to $1 because producers will be forced to incur losses.
• C)demand will increase.
• D)a surplus will result equal to 20 units.
• E)a shortage will result equal to 20 units.

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