Assume that a product has the market demand function QD = 20 − P and the market supply function QS = 6 + P. If a price ceiling is set at $8, then you will predict which of the following would as a result?       Answers: A.  There will be a shortage.   B.  Nothing will happen.   C.  Quantity demanded will be zero.   D.  There will be a surplus.

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